Maveron is raising cash for a new fund.
New SEC filings posted this week show that the Seattle-based venture capital firm is raising a sixth fund. One filing shows a $100 million offering amount for Maveron Equity Partners VI, while another shows $15 million for Maveron VI Entrepreneurs’ Fund.
A Maveron spokesperson said the firm had “no comment” in regard to the SEC filings.
Maveron, the consumer startup-focused firm co-founded 16 years ago by former investment banker Dan Levitan and Starbucks CEO Howard Schultz, raised $140 million for its fifth fund back in 2014. Startups that received recent funding from the firm include companies like Booster Fuels, Arivale, Dolly, and others. Maveron has raised nearly $1 billion to date.
While venture capital deal flow is slowing a bit, Thomson Reuters and the National Venture Capital Association (NVCA) reported this week that U.S. VC firms raised $12 billion for 57 funds during Q1 of 2016 — up 59 percent from Q1 2015, and the highest since Q2 2006.
“As witnessed over the last year, the fundraising environment for venture capital continues to improve,” Bobby Franklin, president and CEO of NVCA, said in a statement. “That’s welcome news for venture capital as an industry but even better for American entrepreneurs who will put that capital to work growing their businesses, hiring workers and driving innovation.”