Are you ready to bring more awareness to your brand? Consider becoming a sponsor for The AI Impact Tour. Learn more about the opportunities here.

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.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.