According to an SEC filing, SV Angel may be raising another $40 million for a new fund. The filing shows that a fund, titled SV Angel IV, is in the process of raising $40 million, but the sale has not yet taken place.
SV Angel, which was co-founded by angel investors David Lee and Ron Conway, has invested in companies such as Twitter, Zynga, Square, Hipmunk, Fab.com, Path, and Airbnb. The firm most recently raised $20 million in the Spring of 2011.
Earlier this year, we heard that Lee is solely running SV Angel, with Conway still maintaining a large vested interest. At the time, Lee said that he was possibly raising additional money for the firm.
As Conway told TechCrunch founder Michael Arrington (who is a limited partner in SV Angel) last year, SV Angel typically invests in 2 to 3 startups per month, but 5 qualified deals a day are referred to them through their network. Clearly, there’s lots of deal traffic heading their way and a new fund means more money for the startup ecosystem.
We contacted Lee, who declined to comment.
SV Angel is the micro VC firm located in Silicon Valley and founded by angel investors, Ron Conway and David Lee. SV Angel provides capital investments to early stage companies focused on the Internet, e-commerce, and information technology markets. SV Angel is a venture fund which has raised investment from external investors or limited partners in industry parlance. In April 2010, the fund announced its size of $20 million. Per the firm, SV Angel initially expected to raise a...