137 Ventures caps oversubscribed Fund II on $137m

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Justin Fishner-Wolfson 137 VenturesVenture capital lending firm 137 Ventures has held a $137m final close for its oversubscribed second vehicle.

The firm provides structured liquidity products to startups in exchange for shares in their businesses.

137 Ventures closed its debut fund on $50m in 2011 to target investments in fast-growing, late-stage technology companies.

The firm has scored significant exits since it was founded in 2010, including the IPOs of SolarCity and 2U and the sale of Tumblr to Yahoo! for $1.1bn.

Co-founder and managing partner Justin Fishner-Wolfson said, “We believe in building long-term relationships with founders and companies to support them as they scale.

“As companies stay private for extended periods of time, our model offers a unique solution to the growing tension between startups and their founders and employees during the growth phase of a company’s life cycle.”

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