Blumberg Capital closes third fund on $150m

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san francisco tram_sqVenture capital firm Blumberg Capital closed its third fund on $150m three months after making a massive return of 52 times from its investment in HootSuite.

Blumberg Capital III, which significantly exceeded its initial $100m target, will focus on seed and early stage investments in technology startups.

It said it has the extensive experience in investing in the enterprise software, digital and social media, mobile and consumer internet.

The San Francisco-based firm specialises on seed and Series A rounds, making initial investments of between $500,000 and $3m.

Managing partner David Blumberg said, “We specialize in leading seed-stage financing rounds with a motto of ‘Go early, go big’.

“Our recent success with HootSuite yielded 52x return on our initial investment and is a powerful endorsement of that strategy. We are active investors adding value through business development by leveraging our extensive network of CIOs, CMOs and strategic partners.”

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