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Bullpen Capital Launches $140 Million Venture Fund

Bullpen Capital Launches $140 Million Venture Fund

Venture capital firm Bullpen Capital launched Bullpen IV, a $140 million venture fund designed to continue the firm’s post-seed investing.

Bullpen is the creator of the “post-seed” round, a venture capital financing round after the seed stage that sets up a “supersized” Series A, a critical financing tool for underappreciated, fast-growing companies that have achieved product-market fit. By investing in this post-seed gap, Bullpen plans to inject small amounts of capital that propel startups towards a big A round and give founders more control over their futures.

Since its 2010 founding, Bullpen funded 80 companies projected to generate $5 billion in revenue in 2018. According to the company, its portfolio companies graduate to their next funding round at a 70 percent rate, and have raised more than $1.8 billion in downstream funding.