- Missouri-based venture capital firm Cultivation Capital announced it raised $74 million for its third technology sector-focused fund
Cultivation Capital — a Missouri-based venture capital firm — announced it raised $74 million for its third technology sector-focused fund called the Cultivation Capital Tech Fund III. This means that the venture firm is nearing its $75 million target.
According to Alt Assets, the Cultivation Capital Tech Fund III has received commitments from at least 89 limited partners so far. Even though the target is $75 million, the fund could raise up to $100 million. And it is unclear when the fund will reach its final close. But Cultivation is not planning to raise funding for longer than 12 months.
Cultivation Capital typically invests around $500,000 to $3 million of equity in pre-Series A deals. And some of the company’s portfolio companies include Cheddar, Assembly, Avail, Reconstruct, and Lockerdome.
Founded in 2012, Cultivation has invested in more than 140 startups in the life sciences, food tech, agriculture, software, and health tech sectors. Last year, the Cultivation Capital Life Sciences Fund II raised over $15 million with a goal of hitting $30 million.
Cultivation’s executive team include Matt Badler (General Partner), Meg Brigman (Operations Associate), Andy Cloyd (Principal), Peter Esparrago (Co-Founder & General Partner), Martha Gallagher (Compliance Associate), Marc Hirshman (General Partner), Elise Miller Hoffman (Principal), Cliff Holekamp (Co-Founder & General Partner), Kyle Kerns, CPA (CFO and Operations Lead), Brian Matthews (Co-Founder and General Partner), Paul Meier (Principal), Michelle Myers (General Counsel and Chief Compliance Officer), Graham C. Peck (Venture Partner), Matt Plummer (Principal), Yvette Rodriguez-Acosta (Principal), Rick Ryan (General Partner), Bobby W Sandage, Jr., PhD (General Partner), Barry Sandweiss (General Partner), William Schmidt (Managing Partner), David Smoller (General Partner), Timothy Stern (General Partner), John True (General Partner), Paul Weber (Venture Partner), Kyle Welborn (Co-Founder & General Partner), and Heather Wood (General Partner).
