New York-based early-stage VC firm Torch Capital closed its two funds with over $200M in capital commitments.
$116M of the capital is earmarked for its second flagship fund and $89M for its first opportunity fund. Torch intends to back 25 to 30 consumer tech startups with the fresh funds.
Jonathan Keidan established the firm in 2018 with a $60M fund.
- The latest funds bring the firm's assets under management (AUM) to over $400M.
- Torch will write individual checks ranging from $1M to $3M in seed stages and between $3M to $5M in Series A stage startups.
- Notable portfolio startups include investing platform Acorns, clearing and custody platform Embed, mental health startup Little Otter, and banking platform for SMEs Rho.
