Project 11 launches $30m maiden fund

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Westview BostonBoston-based venture capital firm Project 11 has launched its debut fund with a $30m target, according to a document filed with the US Securities and Exchange Commission.

Project 11 Ventures I does not have a placement agent and has yet to register its first commitment, the filing showed.

The firm, which is focused on early-stage startups, is led by Katie Rae, who is also a managing director of Techstars in Boston.

She previously served as the head of product for Microsoft Startup Labs and senior vice president of product at Eons.

Similar-sized funds currently in the market include Blue Swell Capital’s debut fund, which is also targeting $30m.

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