Freestyle Capital has raised its fourth fund to invest in early-stage startups. This time around the firm is increasing the fund size to $90 million and..
Freestyle Capital has raised its fourth fund to invest in early-stage startups. This time around the firm is increasing the fund size to $90 million and promoting Jenny Lefcourt to general partner.
Freestyle was founded by Josh Felser and Dave Samuel , serial entrepreneurs who had previously built and sold a couple of companies together. After a short period of angel investing, the two raised their first fund of $26 million in 2011 and have added a new fund roughly every two years ever since.
In 2013 the fund grew to $40 million, and they increased it again with their $60 million Fund III in 2015. For Fund IV, Freestyle upped the ante and raised $90 million, in part so that it could put Lefcourt on an equal footing with the founding partners.
“L ike most funds, we have continued to raise more as we become better at what we do, but this was the first time where we were oversubscribed,” Felser told me. “We want to take bigger risks and invest more capital, but adding Jenny was a huge impetus for raising more capital.
