Early startup-focused Cofounders Capital raises nearly $24M for new fund

CARY – Cofounders Capital is raising a new fund – its third – and investors are already lining up to participate in a chance to invest across North Carolina’s entrepreneurial community.

According to an SEC filing, Cary-based Cofounders has already secured nearly $24 million from 53 investors.

Each had to contribute at least $100,000 to participate, according to the filing.

The targeted goal: $50 million.

“I can’t really say much about an active security offering but you can probably assume that our next fund will be very much like our last … focused and very early-stage,” David Gardner, the founder of the venture firm, tells WRAL TechWire.

But Gardner does note that the focus of Cofounders remains relatively unique in its focus.

We are still about the only fund like this in the Carolinas i.e. run by serially successful entrepreneurs and willing to write a pre-revenue terms sheet.,” he says.

“We love what we do and will continue doing it for as long as we can.”