Seed investment fund SoftTech VC is reportedly preparing to launch a fourth fund with a $75m target and an $85m hard cap.
The firm is currently in talks with LPs about launching the fund, said Dow Jones, citing two people familiar with the situation.
SoftTech VC closed its most recent fund on $55m in 2012, five years after raising $15m for its second vehicle.
The Palo Alto-based firm makes intial investments of $250,000 to $750,000 for five to ten per cent stakes.
Earlier this year SoftTech participated in a $4m funding round for TakeLessons, an online service marketplace for music lessons in the US.
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