Bolt, a Boston-based venture capital fund focused on connected hardware startups, closed its second fund, at $25m.
Limited partners in the new fund include return strategic investors Autodesk, Logitech, and Grishin Robotics and new strategic investor Cisco Investments. The fund includes a number of well-known financial LPs including university endowments and fund-of-funds.
Via its $4m first fund, closed in 2013, Bolt has invested in 18 connected device startups (including DipJar, Kuvee, Petnet, and Understory) also providing a full engineering/design staff, high-end prototyping facilities, and manufacturing help.
With this new fund, the firm, which was founded by Ben Einstein, Axel Bichara, and Scott Miller, will invest up to $500k per startup.
They will also open a second facility located in in the Autodesk Workshop at Pier 9 on the San Francisco waterfront.