Back to Blog May 11, 2015 in

MEMBER NEWS: HRV Announces $5mm Opportunity Fund

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HRV is pleased to announce a $5 million Opportunity Fund. It will co-invest alongside of HRV I in the later stage growth rounds of our portfolio companies. The fund is similar to other Opportunity Funds by leading venture capitalists including Mark Suster, Fred Wilson, and Brad Feld.

Opportunity Funds are the industry’s response to companies staying private longer and raising larger rounds of capital. They allow investors to take advantage of pro-rata participation rights,  concentrate capital, and maximize ownership in early-stage investments as they mature and grow. 

“The Opportunity Fund allows HRV to increase the follow-on funding available for our growth-stage companies. It’s a win-win by increasing allocations to our best performing portfolio companies and maximing returns for investors,” says Tim Streit. 

The fund was first contemplated in 2014 in response to the rapid growth of Ambiq Micro, SideCar, and FarmLogs, HRV’s first three portfolio companies that have gone on to raise large rounds of funding. “We believe all of our portfolio companies have exceptional growth potential and the Opportunity Fund increases our capital reserves 2-3x.” says Streit. “The fund was nearly 90% subscribed in two months, which is a reflection of the great work of our CEOs. With the additions of Sam Hogg, our new venture partner, and the Opportunity Fund, we are prepared to wrap up our last 3-4 new investments in the current fund, and support our companies’ continued growth in the years to come.”