Venture debt investment house Eastward Capital Partners has pulled in the first slice of capital for its eighth flagship fund, which is out raising up to $150m, AltAssets can reveal.
The firm has registered just over $31m to date for Eastward Capital Partners VIII thanks to 22 backers, a document it lodged with the US securities regulator shows.
Eastward is eyeing an identical amount for Fund VIII to the goal for its seventh fund, which it was out raising at the beginning of last year.
No final close amount has been revealed by the firm for that vehicle, or for its predecessor, which was looking to collect $100m when it launched in 2013.
The VC firm, which was co-launched by CommVest founder Dennis Cameron, provides debt and equity financing to technology companies already backed by top-tier venture capital investors.
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