Fitz Gate Ventures, a Houston, Texas-based early stage venture capital firm with a focus on companies founded, managed or owned by Princeton alumni, faculty or students, has held the first close of its first fund, at $5.945m.
According to a regulatory form filed with the SEC, Fitz Gate Ventures, L.P., has a final target of $15m. 38 backers participated in the offering to date.
The document lists managers Mark Poag and James Cohen as people related to the offering.
The firm invests primarily in startups in every industry sector which are founded, managed or owned by Princeton alumni, faculty or students with an early stage focus (Seed, Series A and Series B). It can invest $250K plus follow-on investments.
With an office in Princeton, relationships on campus as well as with loyal alumni nationwide and its “Friends of Fitz” network of Princeton professors, students and alumni, Fitz Gate Ventures has access to a wide range of investment opportunities both on and off campus.
To date, the fund has invested in Smartasset, a personal finance platform with a patent pending automated financial modeling technology that provides answers to important financial questions.