Click For Photo: https://techcrunch.com/wp-content/uploads/2019/06/Jon-Keidan-_-Headshot.jpeg?w=599
Jonathan Keidan, the founder of Torch Capital, had already built a portfolio that included Acorns, Compass, Digital Ocean and Sweetgreen, before he raised single dollar for his inaugural venture capital fund, which just closed with $60 million.
Keidan, a consummate networker who began his professional career as a manager working with acts like The Nappy Roots, The Getaway People and a young John Legend, just managed to be in the right place at the right time, he says (thanks, in part, to his gift for gab).
Close - Torch - Capital - Fund - Beginning
The final close for Torch Capital’s first fund is just the beginning for Torch, which is angling to be one of the premiere firms for early stage consumer internet and consumer facing enterprise software.
The firm began raising its first fund in October 2017 and held a $40 million first close just about one year ago. Keidan and his partners had targeted $50 million for his first investment vehicle, but wound up hitting the hard cap of $60 million, in part due to high demand from the New York-based entrepreneurs that Keidan considers his peers.
Addition - Backers - George - Kaiser - Family
In addition to backers like the George Kaiser Family Foundation and billionaire Hong Kong fashion mogul Silas Chou, Keidan was able to tap startup founders like Jennifer Fleiss, the co-founder of Rent the Runway; Casper co-founders Philip Krim and Neil Parikh; and Bryan Goldberg, the founder of Bleacher Report and owner of Bustle Media Group (which includes Gawker, Bustle, Elite Daily, Mic, The Outline, and The Zoe Report, which collectively form Bustle Digital Group).
“Because I’ve taken a more startup approach i was recruiting raising money and doing deals at the same time,” says Keidan.
Partners - Sam - Jones - Investment - Banker
Along with partners Sam Jones, a former London-based investment banker; Katie Reiner, an investor at the data-driven growth fund, Lead Edge Capital; Curtis Chang, a technology-focused investment banker from...
Wake Up To Breaking News!