According to an SEC filing, Silicon Valley investor SV Angel has raised a new round of funding for a fund titled, SV Angel-III Growth P.
As we reported in August, SV Angel filed another document with the SEC that indicated the firm was raising another $40 million for a new fund. 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.
This specific fund from the form filed today appears to be a growth fund for the III fund. SV Angel could have raised this extra fund to participate in follow-on investments for seed companies.
Last year, Conway announced that Lee is solely running SV Angel, with Conway still maintaining a large vested interest. Lee had said in May of 2012 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 two to three startups per month, but five qualified deals a day are referred to them through their network.
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