K9 Ventures is a venture capital company that has just raised $40 million for their second fund, which is a tech-focused micro-fund known as the K9 Ventures II fund. The fund is led by Manu Kumar, who had headed the earlier fund.
The first fund started in 2009, which was at $6.25 million. Individual investments from that fund ranged from between $100,000-$250,000 in concept and seed-stage around the San Francisco-Bay Area. Around 4-6 companies would be invested in per year.
K9 invested in 18 startups over the last 3 years including Twilio, CardMunch, Occipital, Card.io, TapCanvas, IndexTank, BackType, etc. In this new fund, the initial investments will be bigger at between $250,000-$750,000.
?This will allow us to potentially lead the seed round, while maintaining an active engagement with these companies,? Kumar said. ?K9 Ventures II will still be syndicating most investments with other seed and angel investors.?
Investment criteria requires technical founders or people that have the ability to build their own product. The team should also be based in the Bay Area or should be open to moving there. K9 advisors include Lian Donohue of .406 Ventures and Brad Feld of Foundry Group.