An SEC filing shows that the walking conflict of interest is trying to raise a $40 million fund. Although that figure is twice the size of his previous fund, where his investors included the VC firms and bold-faced names he once reported on for TechCrunch, Dan Primack says the numbers may be misleading:
The document suggests a $40 million ceiling, but my understanding is that CrunchFund actually is targeting around $30 million. That's basically the same as the $28 million it raised for its first fund.
CrunchFund has made more than 115 investments, including notables like AirBNB, Redfin, Path, Uber and Yammer (acquired by Microsoft). Most of its recent deals have been between $100,000 and $500,000 for early-stage companies.
Primack says that CrunchFund has "already has held around a $25 million first close for the new fund, which includes a new commitment from founding investor AOL." You guys remember AOL, right? It's the one that owns TechCrunch and hosts those conferences where Arrington's startups end up taking the top prize.
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