Friday, October 2, 2020

BAM Ventures, Led By Brian Lee, Seeks $50M In Third Fund

BAM Ventures, the venture capital investment firm founded by serial entrepreneur Brian Lee, is looking to raised $50M in a third venture capital fund, BAM Ventures III, L.P.. Lee--best known for co-founding LegalZoom, as well as Shoedazzle--has been making investments from his own funds for a number of years. BAM's prior fund, BAM Ventures II, was $20M, with the first fund, BAM Ventures I, worth $6M. According to a filing with the SEC, there have not yet been any commitments to the new venture capital fund. BAM's most successful investment reportedly was in Honey, which was purchase by Paypal last year for $4 billion; the firm reportedly turned a $150,000 investment into $45M in that deal.