A.Capital Companions, based by Ronny Conway, targets $140 million for its third fund

Silicon Valley investor Ronny Conway is elevating his third early-stage enterprise fund, exhibits a brand new SEC submitting that states the fund’s goal is $140 million and that the primary sale has but to happen.

The now six-year-old agency, A.Capital, focuses on each client and enterprise tech, and has places of work in Menlo Park and San Francisco.

Among the many many brand-name firms in its portfolio are Coinbase, Airbnb, Pinterest, and Reddit. (You’ll find its different investments right here.)

Conway led the seed-stage program of Andreessen Horowitz (a16z) for roughly 4 years in its earliest days and left in 2013 to boost his debut fund, which closed with $51 million in capital commitments. He additionally raised two, smaller parallel funds on the time.

In line with SEC filings, he sought out $140 million for his second fund, although he by no means introduced its shut.

A.Capital is immediately run by Conway, together with Common Companion Ramu Arunachalam (additionally previously of a16z) and Kartik Talwar, who labored beforehand with Conway’s brother Topher, and his famed father, Ron, at their separate enterprise agency, SV Angel.

Conway maintains a far decrease profile than his father, who all through his enterprise profession has nurtured relationships not solely with founders however with tech reporters and native politicians.

Although now historic historical past in Silicon Valley years, Ronny Conway has been credited with introducing a16z to Instagram when it was a nascent cellular photo-sharing app.

Conway, a former Googler, met Instagram cofounder Kevin Systrom within the a number of years when Systrom, too, labored for the search large, starting in 2006. It turned out to be a extremely worthwhile introduction to a16z, although it may have been even profitable. Although the agency made a seed-stage guess on Instagram, it didn’t observe up with one other verify due to a separate funding in a competing startup that may finally flounder (PicPlz).

It was a delicate problem on the time for a16z, with some noting its missed alternative. Actually, agency cofounder Ben Horowitz felt compelled to write in a weblog put up that when Fb acquired Instagram for $1 billion in 2012, a16z did simply superb, wringing $78 million from its $250,000 seed funding within the startup.

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