Venture capital firm Cultivation Capital has launched a new technology investment fund.
The St. Louis-based firm has established Cultivation Capital Tech Fund IV LP, according to a recent filing with the U.S. Securities and Exchange Commission. The filing lists the fund's total offering as $100 million and states its first sale has yet to occur.
The regulatory filing says Cultivation Capital has reserved the right to increase the offering up to $125 million.
Cultivation Capital declined comment on the new fund. The filing lists several of Cultivation Capital's executives as "directors" of the fund, including co-founders and general partners Brian Matthews and Cliff Holekamp. Other general partners listed in the filing include John True, Heather Wood, Barry Sandweiss, Timothy Stern and Paul Weber.
Founded in 2012, Cultivation Capital backs early stage companies in the software, life sciences, agriculture technology and geospatial technology sectors. It has invested in more than 150 companies since its launch. Multiple St. Louis-based companies in Cultivation Capital's portfolio marked exits in 2021, including agtech firm Benson Hill, digital health startup CareSignal and software company TopOPPS. Other significant St. Louis startups in its portfolio include financial technology firm FinLocker, life sciences company Geneoscopy and agtech startup CoverCress.
For Cultivation Capital, its newly launched fund is the fourth technology fund it has created since its founding. Prior to its Tech Fund IV, it reported in 2019 raising $74.2 million for its Tech Fund III.
Cultivation Capital’s Tech Fund IV isn’t the firm’s only new fund to launch recently. In 2021, it reported raising $18.1 million for the Cultivation Capital Geospatial Tech Fund I LP, a new investment fund focused on geospatial technology.
