San Francisco, California
SoftTech VC is a seed stage venture capital firm, started in 2004, and operated by Jeff Clavier, one of the most active Web 2.0 angel investors. Mr. Clavier put together Fund II during the summer of 2007 and announced it in September 2007. Mr. Clavier's goal with Fund II was to invest in about 20 companies per year, as a lead, co-lead or member of a syndicate, investing $100K to $5000K without a specific target in percentage of ownership. Round size would range $500K to $1.5M, and would include typically one to three other seed firms, a number of individual angels and in some cases traditional VCs investing directly from their main fund or through a seed vehicle. Since August 2007, SoftTech VC II has invested in 60+ early stage startups, pretty much keeping up with the stated objective of 20 companies per year. Similar to Fund I, Fund II had a number of early stage exits, and has seen significant follow-on activity with 29 companies raising over $170M in additional financing to date. In 2011, a $35M successor fund made its debut. This fund targets an average initial 'bite size' of $400K, ranging from $250K to $750K - with selective follow-on reserves, with an initial ownership target of 5% - and 10%. June 2014 the firm announced the closing of SoftTech VC IV, an $85 million venture capital fund. The fund is a substantial boost in size from SoftTech VC's $55 million third fund that was raised in 2011. Like its predecessor funds, this fund focuses on seed stage opportunities in B2B and B2C technology startups. the Fund IV is to take larger stakes in portfolio companies and to have the resources to follow-on in subsequent rounds. The fund's strategy is to make initial investments of $500,000 to $1 million, with the goal of owning a 7-10% ownership stake. The fund plans to invest about $35 million in 50 companies over 3 years, leaving $50 million earmarked for follow-ons. The geographic mix is expected to mirror the current roster of active portfolio companies, of which 80% are located in San Francisco/Silicon Valley, and New York, Boulder, Southern California, and Toronto-Waterloo forming the balance. June of 2016, SoftTech VC raised $100 million for its fifth seed stage venture fund and $50 million for its opportunity fund. SoftTech VC V will focus on backing about 40 startups over three years in sectors that include SaaS/b2b, connected devices and monetized consumer services while SoftTech VC Plus will target specific growth stage investments across previous SoftTech VC funds.
Firm Location:San Francisco, California
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