Las Olas Venture Capital Closes $50M Fund II

Las OIas Venture Capital

Las OIas Venture Capital, a Fort Lauderdale, Fla.-based venture capital firm, raised $50M for its latest fund to continue its strategy of seed-stage B2B software investments.

With this new fund, LOVC continues its thesis of seed-stage financings for B2B software companies, with a particular focus on companies based in emerging technology markets such as the southeastern US.

The vehicle seeks to lead seed round sizes of $3-5M with up to $2.5M initial checks and plans to reserve additional capital for follow-on investments.

LOVC expects to invest in 15-20 companies out of this fund and has already closed on its first three investments.

This fundraise follows LOVC’s debut $28.5M Fund I and together with its other co-investment vehicles brings the firm’s total assets under management to approximately $100M.

The firm is led by Founding Partner Mark Volchek.