Venture capital firm Bread and Butter Ventures, which was co-founded by Brett Brohl, Mary Grove and Stephanie Rich earlier this year, is raising a $25 million fund according to an SEC filing posted Monday.
The fund is called Bread and Butter Ventures Fund III. While it's the first fund raised under the Bread and Butter name, two previous funds from Managing Partner Brohl's Syndicate Fund have been rolled into the firm. Grove also serves as a managing partner, while Rich serves as head of platform.
Read Bread and Butter Venture's Form D here.
The Syndicate Fund raised $1 million for its first fund in 2017 and $5.75 million for its second in 2019. Bread and Butter is still making investments out of that second fund.
"We're thrilled and proud of the progress we have made since we announced Bread and Butter Ventures this summer," the firm said in a statement to Minne Inno. "Since the end of June, we've made seven new investments in startups across the country and doubled down on several of our existing portfolio companies. We've very excited about what 2021 holds for us!"
Bread and Butter has been busy. It participated in manufacturing software company Fulcrumpro Inc.'s $3.1 million seed round, which was announced last month. It's also participated in hair stylist marketplace company ShearShare's $2.1 million seed round and a $1.2 million seed round for Cherry Blossom Intimates, a startup supporting breast cancer survivors.
Bread and Butter focuses on investing in startups in the agriculture, food, health care and enterprise software markets. It invests in companies across the country, and will potentially eye global companies with its third fund.
