Bullpen Capital, a Menlo Park-based post-seed funding venture capital firm, closed its third fund, at $75m.
Limited Partners include Greenspring Associates, Venture Investment Associates (VIA), Oberlin College, and other institutional and individual investors.
Led by Duncan Davidson, Paul Martino, Eric Wiesen, Rich Melmon, and James Conlon, Bullpen Capital III, L.P., will continue to follow the firm’s strategy of investing in post-seed, “non-obvious” companies that have achieved product-market fit but have not yet proven sufficient market scalability to raise a major round.
Given the above, Bullpen invests in companies that have an operational plan to hit big milestones within a 12-month period, working closely with the team to develop this early traction into large, sustainable businesses.
The firm has already invested in Fanduel, Ipsy, Namely, Wag, Airmap, among others.