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Forerunner Ventures ups the ante with a new, third fund

TechCrunch TechCrunch 6/07/2016 Connie Loizos

Forerunner Ventures, an early-stage, San Francisco-based venture firm that focuses almost exclusively on e-commerce businesses, has raised a $122 million fund, shows an SEC filingSEC filing that was filed earlier this morning.

The firm was founded by Kirsten Green, who is listed on the filing along with Eurie Kim, a partner who joined the firm in 2012. The all-female firm also features an operating principal, Melissa Grillo Aruz, and associate Nicole Johnson.

Green, who was an equity research analyst following the specialty retail sector earlier in her career, didn’t respond to an interview request of earlier today.

The firm’s newest fund is its third, and it’s a sizable step up from Forerunner’s previous $55.5 million fund, which was reportedly capped at $75 million. It’s also three times bigger than the firm’s first institutional fund, which closed with $40 million in 2012.

Some of the firm’s many bets include the online and offline eyewear retailer Warby Parker, which has reportedly considering filing for an IPO last year but remains privately held; Bonobos, another retailer that makes men’s clothes and has made extensively written about as a pre-IPO candidate for years but remains privately held; and Dollar Shave Club, a four-year-old, subscription service for razors and other men’s toiletries that says it’s on target to turn profitable this year.

Many of the firm’s bets remain too young to have exited just yet, though one, Shuddle, a two-year-old transportation platform that was widely billed as an Uber for children, shut down in April after failing to raise follow-on funding.

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