It looks like Jeff Clavier‘s venture fund SoftTech VC has just raised $15 million out of $35 million for a new fund, SoftTech VC III according to an SEC filing. In addition, it appears that Charles Hudson has joined as a partner in the fund. Update:Clavier has officially announced that Hudson has joined SoftTech as a venture partner.
In terms of history, “Super Angel” Clavier launched Fund II, a $15 million seed fund focusing on the consumer Internet space in 2007, aimed at investing in 50+ companies over 3 years. Fund II has invested in 60+ early stage startups, with 29 companies raising over $170 million in additional financing to date.
From 2004 to 2007, Clavier operated Fund 1, which produced 7 early stage exits with a total consideration of $350 million. And 14 of the companies funded out of this investment fund raised north of $200 million in follow-on financing.
Clavier has invested in a number of high-profile startups including Blekko, Bit.ly, Animoto, Milo, Get Satisfaction, Userplane, Truveo, MyBlogLog and many others.
Hudson was previously the the VP of Business Development for social gaming company Serious Business, which was acquired by Zynga in February of 2010. Prior to this role, Hudson was the Sr. Director for Business Development at Gaia Online and also held roles at Google and In-Q-Tel, the venture arm of the CIA.
We’ve contacted Clavier for confirmation and will update when we hear back.
UPDATE: Clavier declined to comment on the new fund.
SoftTech VC is one of the original micro VC firms, founded in 2004 and backing over 135 early-stage start-ups. Based in Palo Alto, the firm manages two institutionally-backed funds and invests in Silicon Valley, New York, Southern California, Boulder and Canada. SoftTech VC is among the most active investors in early stage consumer Internet and B2B startups, consistently investing in 20 new opportunities a year. We seek great entrepreneurs, differentiated products and large market opportunities. More information...
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