Act One Ventures, a Los Angeles-based venture capital firm, has raised $73 million for its third fund, bringing its assets under management to $148 million. This comes at a time when the venture capital industry is experiencing a contraction, with firms unable to raise new funds. Act One will continue to back business software companies at the seed stage, with a focus on vertical SaaS, fintech, compliance, and ecommerce infrastructure. The firm plans to reserve a significant portion of the fund for follow-on financing of portfolio companies.
Act One Ventures Secures $73M for 3rd Fund Despite Market Slump
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