Bullpen Capital, the Silicon Valley-based early stage venture capital firm, is raising $35 million for what appears to be its second fund, according to regulatory documents filed today with the Securities and Exchange Commission.
Bullpen Capital was founded in late 2010 and is aimed at making follow-on investments in startups that have already received angel funding. Even though the firm is quite young, its portfolio has already had some hits: Bullpen’s investments have included Assistly, which was acquired by Salesforce, and FlashSoft, which was acquired by SanDisk.
According to the new SEC filing, Bullpen is now looking to raise $35 million for what appears to be its second fund, Bullpen Capital II. No money has been raised for the fund yet, the filing says. Bullpen’s founders and partners Duncan Davidson, Paul Martino, and Richard Melmon are all named in the document.
It’s a step down in size from Bullpen’s first fund, for which the firm targeted a $50 million raise back in December 2010.
We’ve reached out to Bullpen for comment on the new raise and its plans for Bullpen Capital II. We’ll be sure to report back once we receive more details.