Firebrand Ventures, a Kansas City based seed stage venture capital fund founded by former Techstars Managing Director John Fein, closed itd fund, at $17.7m.
The fund, which was oversubscribed about 250% from an initial $7m target, aims to enable B2B SaaS startups in the “Greater Midwest” area roughly bordered by Austin to Minneapolis, and Boulder to Columbus, OH, to grow their businesses
Portfolio companies can access a huge array of investors, mentors, and potential partners and customers.
The fund will help startups raising $500k-$2M, investing an average of $200k into those rounds and will reserve multiples of that for select follow on investments.
Firebrand has already made 12 investments to date and will continue making 10-12 investments per year during the active period, investing in a total of about 35 companies. They have co-invested with top funds including Union Square Ventures, Foundry Group, and Techstars Ventures.
– Brian McClendon, former Google exec and creator of Google Earth;
– David Cohen, Techstars CEO and early investor in Uber, SendGrid, Twilio, and many others;
– veteran VC Tom Ball who founded Next Coast Ventures in Austin; and
– Keith Harrington, experienced VC and Kauffman Fellow who founded Novel Growth Partners in KC.