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The NYC Venture Capital News Digest: 10/15/2019

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This bi-weekly column covers the latest news from venture capital firms in NYC for the first half of October 2019 featuring must-know news including news for BoxGroup, Brooklyn Bridge Ventures, Beacon, and much more.

BoxGroup
$82.5M Seed Fund
$82.5M Opportunity Fund
Box Group, the early-stage investment firm founded by Adam Rothenberg and David Tisch has taken on outside capital for the first time. The firm, founded in 2009, has closed two separate funds, both at $82.5M - a seed fund as well as an opportunity fund. Both funds are backed by sixty-five limited partners. Since its founding, the company has made over 300 investments and has backed companies that include GroupMe, Artsy, Yieldbot, Skillshare, Trello, Behance, Harry's, Warby Parker, Oscar, PillPack, Handy, and Flatiron Health.
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Brooklyn Bridge Ventures
$4.6M - Fund III First Close
Brooklyn Bridge Ventures has held its first close for Fund III at $4.6M according to a recent SEC filing. The filing indicates that this close comes from twenty-six limited partners and that the total offering is for the fund is $20M. Brooklyn Bridge Ventures was founded by Charlie O'Donnell in 2012 and has backed companies that include Wethos, Petal, Journey Meditation, Floored, RIngly, and Orchard.
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Beacon
$4.1M - Fund II First Close
Beacon, the consumer investment fund of Flycleaners and Insomnia Cookies founder Seth Berkowitz, has held its first close for its second fund. The close is for $4.1M and comes from eight limited partners. The total offering for the fund is for $15M and the fund is permitted to raise up to $20M.

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