Fuel Capital, a Burlingame, CA-based early-stage venture capital firm, closed its third fund, at $75M.
Fuel III will continue the firm’s strategy investing at the seed stage, even leading investments, in companies working in such areas as:
– developer tools,
– business software, as well as
– consumer companies, specifically consumer marketplaces.
With this new fund, the firm will focus on expanding the marketing and branding services they offer to portfolio companies. To this end, Fuel recently hired Jamie Viggiano as Chief Marketing Officer. Viggiano has more than a decade of experience leading marketing organizations at the earliest stages.
Led by Chris Howard, founding partner and GP, and Leah Busque, GP, Fuel Capital has invested in such companies as Katerra, Flexport, Convoy, Mesosphere, Clearbit, CTRL-Labs, Figma, Lattice, Nervana (acquired by Intel) and CoreOS (acquired by RedHat).
This new fund brings the total assets under management to $146M (growing from $25M in Fund I to $46M in Fund II to $75M in Fund III).