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.
Investors and companies trying to raise money do this from time to time. Consider it the SEC equivalent of shoving a sock down your pants. According to Primack:
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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