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Kapor Capital’s new team is fundraising for the opportunity • TechCrunch

Four months after closing my biggest fund So far, Kapor Capital wants more. Company under new leadership after co-founders Freada and Mitch Kapor step back from the dress, which focuses on funding social impact projects and founders of color. Now, led by Uriridiakoghene “Ulili” Onovakpuri and Brian Dixon, Kapor Capital is hoping to raise $50 million in opportunity funding, according to SEC filings.

If the Opportunity Fund closes, it will continue Kapor Capital’s new strategy of raising capital from outside investors. Until last year, all of Kapor’s funds came directly from founding partners; However, in September the company closed a $126 million Fund 3 backed by investors including Cambridge Associates, Align Impact, Ford Foundation, Bank of America, PayPal and Twilio.

At the time, Dixon told TechCrunch that turning to outside investors would give the company access; Kapor is currently writing checks for $250,000 to $3 million with a primary focus on participating in pre-seed and seed rounds. Onovakpuri said the larger fund would allow it to invest in more companies with larger checks.

That said, with perhaps a new amount of capital to deploy, why would Kapor have an eye on an opportunistic fund? It’s a trend that’s become the norm among early-stage venture capital firms looking to participate in later rounds of their star portfolio companies. Last year, Khosla launches opportunity fund and last week, Cowboy was also the first to raise it.

Kapor Capital did not immediately respond to a request for comment.



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