Local VC firm Cultivation Capital reports raising $42 million for startup funds

May 21–Cultivation Capital, the St. Louis-based venture capital firm that invests in early-stage startups, has reported raising more than $42 million for two of its investment funds.

Cultivation Capital reported raising an additional $28.7 million for its second tech-focused fund, a planned $40 million fund that was launched 2014. To date, more than 80 percent of that fund has been raised, according to the filing with the Securities and Exchange Commission.

Cultivation Capital also reported raising $13.6 million for its Life Sciences II fund. The planned $30 million fund, which could be extended to reach $40 million at Cultivation Capital’s discretion, was first launched in late 2016. About half of the original target still remains to be raised.

A third filing shows SixThirty Cyber Fund, an investment fund Cultivation Capital helped start in 2016 to invest in cybersecurity startups, raising $2 million toward its larger $10 million fund. Including the most recent funding, the fund now has $3 million to disperse to startup companies.

Executives with Cultivation Capital, which is based in downtown St. Louis at the T-REX innovation center, declined to comment on the activity.

Cultivation Capital, through its funds and business accelerators it financially backs, has invested in more than 100 startups across a variety of sectors. Those startups have gone on to raise more than $830 million in additional capital.

This article provided by NewsEdge.