RoseCliff Ventures is already back in the fundraising market with new a $250m fund, coming hot off the heels of the $74m close of its sophomore vehicle.
The new fund, Rosecliff Venture Partners III, is looking to raise up to $250m, but is yet to register any capital, according to the latest US SEC filing. The document does not make it clear whether this figure is a target or a hardcap.
Columbus Advisory Group has been named as the placement agent for eight US states including California, Oregon, New York and Indiana, among others.
In July, the firm held the $74m final close for its second flagship fund following contributions from at least 41 investors. An initial SEC filing for the vehicle put a target at $50m.
New York-based Rosecliff, which focuses on seed and Series A funding rounds, is led by founder and managing partner Michael Murphy.
Its portfolio includes Trustify, a company working to secure and insure UK organisations against exposure to Cyber Risk. To assist its users, Trustify provides Self-service, GDPR and Cyber Risk Management Tools, supported by online experts, to measure, monitor and mitigate every Cyber Risk a business has.
The firm has also made several investments into the FinTech space, having completed two deals this year.
Most recently Rosecliff led a $7m Series A round for commercial real estate technology startup SquareFoot. The company combines technology and its brokerage team to digitise the leasing process from the initial search through to lease negotiation and signing.
This capital was raised to accelerate expansion in New York, launch in other US markets and build new solutions for property owners.
Another FinTech transaction completed by Rosecliff this year, was a contribution to the $13m Series A of credit card startup Petal. The company uses machine learning technology to assess individuals rather than credit scores and borrowing history.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
