SGVC, a Los Angeles-based venture capital firm, closed its third fund, at $51m.
SGVC Fund III is anchored by:
– Hachschara Insurance Company,
– True Capital Management,
– Manhattan West Asset Management, as well as
– Leumi Investment Services Inc., which served as the fund’s placement agent.
Similar to its prior funds, the fund will focus primarily on early stage investments in Silicon Valley-based financial technology software companies.
In addition to providing early stage capital, SGVC continuously seeks to add value to its entrepreneurs by drawing on its team’s extensive financial services expertise. The firm also uses a limited partners base of over 120 high profile entrepreneurs and prominent Fortune 500 executives.
Founded in 2012 by managing partner, Dovi Frances, SGVC focuses on early stage investments in category defining software companies disrupting the $16 trillion global financial services industry. The firm an early investor in financial technology companies such as: TripActions, SoFi, Addepar, HomeLight, Next Insurance, Sunbit, and Tipalti.
The closing follows high-profile acquisitions of three of its portfolio companies in the past year:
- Loop Commerce by Synchrony Financial,
- SkyGiraffe by ServiceNow, and
- Redkix by Facebook.
The firm has over $150m in assets under management.