NextView Ventures today announced a new $40 million seed-stage fund, double the size of its initial fund raised in 2011.
NextView’s second fund is likely to draw less attention than, say, SV Angel’s new $70M fund, yet the three-year-old firm reports numerous portfolio exits, including Yahoo’s Wander acquisition, Twitter’s $100 million Tap Commerce deal, Groupon’s purchase of Hyperpublic, and Zillow’s $40 million RentJuice deal.
In a call with VentureBeat, NextView partner Lee Hower wouldn’t comment on the firm’s returns from the exits above, but said “we’ve had a number of good exits that have enabled us to realize a healthy portion of our first fund.”
Hower says 80 percent of NextView’s portfolio companies reside in Boston and New York. The Boston-based firm splits its investments between consumer-focused and business-to-business (B2B) tech startups.