NYC-based early stage VC firm Scout Ventures seeks investors to raise $30 Million to fund its Fund II portfolio on SeedInvest. To date, $7,555,000 has been raised for their second fund, with a $100,000 minimum investment.
Scout Ventures targets entrepreneurs in the entertainment, media and commerce sectors to build solid businesses by providing the necessary strategic support and capital required to grow and reach new markets. According to its campaign,
“We engage and utilize our proprietary network to identify smart and scrappy entrepreneurs who are adapting to changing markets, disrupting established business models and creating products that matter. We seek entrepreneurs beginning at the seed stage, and we complement them by taking an active role in business development, marketing, recruiting and product development. Leveraging our investors’ and advisors’ strategic expertise, and our extensive media and technology industry connections, we provide our portfolio companies the resources they need to build great businesses.”
Led by Founder and Managing Partner Bradley Harrison, a West Point and MIT-Sloan grad who served in the US Army for five years earning both Airborne and Ranger qualifications and retiring as Captain, Scout Ventures returned capital to investors in its first fund, Fund I, just over one year after closing.
“Utilizing a network driven approach, Scout identifies companies whose needs match their specific strengths and leverages the expertise of its LPs, advisors, and its experienced management team to provide startups the support they need to achieve rapid growth,” Scout Ventures’ campaign elucidates. “Active involvement with its portfolio companies allows Scout to provide its founders with the resources they need and eliminate problems before they occur. Scout’s proven track record of hands on portfolio management has garnered the attention of both the best entrepreneurs and strongest institutional investors, providing the firm access to the best deals with the largest VCs including Google Ventures, Spark Capital, and General Catalyst.”
Scout Ventures’ Fund I achieved four successful exits (BlackBook in June 2012, FreeAwesome, GateGuru in June 2013, and SocialWeekend), experienced no failures, and is tracking to generate a 32% IRR and a 3.7x cash-on-cash return. Scout Ventures’ Fund II portfolio holds twenty-one start-up companies, including 1000 Museums, Adcade, bContext, Everplans, SeedInvest (concurrently crowdfunding on SeedInvest), RedOwl Analytics, Nestio and Vengo.
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