Thursday, January 18, 2024

Act One Ventures Raises $73M Third Fund

Los Angeles-based venture capital investor Act One Ventures said this morning that it has raised a $73M, third fund. The firm--led by General Partners Alejandro Guerrero and Michael Silton--said it now has $148M under management. Guerrero and Silton got their start in 2013 with UCLA Venture Fun. Act One Ventures said it will use Fund III to continue to back business software companies at the Seed stage, specifically those in vertical SaaS, fintech, compliance, and ecommerce infrastructure. The company says it cuts initial checks from $1M to $2M, and says it has led four of the five deals it has made from the new fund so far. The company said it plans to "reserve significant capital" in this fund for follow-on financing of its existing portfolio.