Venture firm Freestyle Capital held a final close for its second fund just over its $40m target amid hiring SimpleHoney co-founder Joyce Kim as a principal.
AltAssets revealed in February that the firm was within touching distance of its target having gathered $35.9m from 49 LPs according to a filing with the US Securities and Exchange Commission.
At that point Freestyle Capital Fund II was already a third bigger than Freestyle’s $27m debut vehicle, which hit a final close in September 2011 thanks to commitments from Cendana Capital and Hall Capital.
The seed-stage investor, which was launched by John Felser and Dave Samuel in 2009, also acts as a mentor for internet software startups.
Freestyle focuses on making early-stage startup investments between $100,000 and $500,000.
Kim, who revealed his hire and the fund close in a blog post, said Freestyle was also launching a bridge financing programme of up to $1m for its portfolio companies.
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