A young San Francisco-based venture capital firm launched by a partner at Lightspeed Venture Partners has raised $150 million for its third fund.
Founded by Nakul Mandan in 2020, Audacious Ventures has closed on $150 million in commitments for its third fund, Audacious Ventures II, according to a securities document filed on Friday.
Mandan was an investor at Battery Ventures for five years before joining Lightspeed as a partner in 2014, where he is currently a venture partner, according to his LinkedIn profile and Lightspeed's website.
Audacious Ventures has made more than 20 investments across 15 companies over the past four years, focused primarily on early-stage in the enterprise and software-as-a-service sectors, according to PitchBook.
Its portfolio contains several Bay Area startups including Tome, a generative AI-fueled design and presentation company, as well as Jamix, Planette, Scoop, Vartana and WorkOS.
A former portfolio company, Superpeer, was acquired by Skillshare earlier this month for an undisclosed amount.
The firm didn't respond to a request for comment.
Audacious Ventures has raised two other funds over the past four years.
The first closed in 2021 with $88.5 million for its inaugural fund.
Its second fund, called Audacious MV I LP in a filing, raised $11 million.
Mandan runs the firm with partner Muzzammil Zaveri.
Before joining Audacious, Zaveri had been a partner at Kleiner Perkins and Gradient Ventures. He also previously worked on product and strategy at Tencent, according to LinkedIn, and co-founded a Y Combinator-backed developer tools startup, Proxino, in 2011.
