- Weekend Fund — a venture capital firm launched by Product Hunt founder Ryan Hoover — is targeting $10 million for its second fund
Weekend Fund — the venture capital firm launched by Product Hunt founder Ryan Hoover — has filed paperwork with the SEC revealing that it raised $8.676 million with a targeted goal of $10 million for its second flagship fund.
This means it would be more than 3 times the size of Weekend Fund I, which was a little bit more than $3 million according to Crunchbase News.
The first hard capital commitment was received in June 2019. And the $8.676 million came from 98 investors.
Product Hunt is a community-driven Internet company that curates recently launched startups and products on a daily basis. This helps Hoover stay on top of emerging companies. Hoover had founded Weekend Fund in 2017 after AngelList acquired Product Hunt for about $20 million.
“The next big thing is being built on nights and weekends,” said Hoover in a blog post back in 2017 after launching Weekend Fund. “Some of the most transformational companies started as a side project driven by curiosity and an eagerness to build something new.”
Some of the companies that Weekend Fund invested in include Secfi, Deel, Voiceflow, FaZe Clan, Northstar, Carenote, and Facemoji.
Weekend Fund invests in early-stage startups with check sizes ranging from $75,000 to $200,000. Earlier this year, Weekend Fund hired Vedika Jain as the chief of staff.
