The Entrepreneurs’ Fund, a San Mateo, CA-based early stage venture capital firm, held the first close of its latest fund, at $27.45m.
Per an SEC filing, Entrepreneurs’ Fund IV, L.P. has been already supported by 37 investors. The final target of the fund is $100m.
Led by Jeffrey T. Webber and Manoj Saxena, the firm backs b2b software companies at the seed stage. Webber and Manoj themseleves are experts in b2b software and target companies advancing cloud-based cognitive systems designed to analyze structured and unstructured information in order to learn from their interactions with data and humans.
Fund IV has already invested in several startups including CognitiveScale, Welltok, Basket, Truvalue Labs, Wayblazer, Factorlab, and Spark Cognition.