O’Reilly AlphaTech Ventures Raises $85M Third Fund

According to a filing with the S.E.C. (read here), O’Reilly AlphaTech Ventures, a San Francisco, CA-based venture capital firm, has raised its $85m third fund.

Founded by Bryce Roberts, Tim O’Reilly and Mark Jacobsen, the firm makes seed investments from $500k to $1m.

O’Reilly AlphaTech Ventures’ portfolio include 35 companies (Foursquare, Codecademy, Bit.ly, and Good Data).

Commenting on the raise, Bryce Roberts wrote on his blog: “As a seed investor, we’ve always leaned towards larger rounds in favor of giving our founders at least 18 mo of runway with no revenue.
“To date, this means our largest check size was $1M (average check size has been around $700k) and our seed round sizes tended towards $1.5- $2M total.
“With the new fund we’ll be able to provide a select few companies who’ve taken seed rounds of funding with what would have been considered a Series A round, when I came into the business, of $2-$4M.
“In several cases these rounds will allow companies to easily clear the hurdles of more traditional venture capital firms. But, we also hope that a few of these rounds will be the last check some of our founders will need to take”.



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