Collaborative Fund receives $33 million
Collaborative Fund has received $33 million in a second round of funding. The company also added Nexon founder Jungju (Jay) Kim as a venture partner. Collaborative Fund launched three years ago. Collaborative Fund announced that they have raised $33 million in funding for Fund 2. Collaborative Fund’s first fund started at $10 million. Collaborative Fund started by investing in companies like TaskRabbit, Lyft, and Kickstarter.
Collaborative Fund is also adding new investors like former Sequoia general partner Tom McMurray and the artist Shepard Fairey to Fund 2. “We try to look for LPs to sponsor our portfolio companies in a way that can be helpful,” stated Collaborative Fund founder Craig Shapiro as quoted by TechCrunch.
Kimis a self-made billionaire and is one of the richest men in South Korea. He made his wealth by working as the founder of gaming company, Nexon. Nexon was founded in 1994 and went public on the Tokyo Stock Exchange several years ago. Kim will be active out of the Collaborative Fund office in New York.