Venture money company Homebrew is targeting $50 million for a new fund, in accordance with a filing that is new the U.S. Securities and Exchange Commission.

The filing comes as a bit of a surprise considering that Homebrew nearly two years ago said it was pursuing a more stage-agnostic evergreen model that would be funded solely by Satya Patel and Hunter Walk, Homebrew’s general partners. But many firms raise more than one fund at any given time to target particular opportunities; for example, some early-stage firms raise a second, opportunity-focused fund as well to supplement their main vehicle.

For Millionaires reached out to Walk for comment regarding the filing that is new he stated he had been unable to state such a thing openly at the moment. A source just who wanted to continue to be told that is anonymous Millionaires that Homebrew has been using SPVs to write pro-rata checks into certain follow-on investments, but is seeking to raise a fund for this purpose instead.

The San firm that is francisco-based which historically dedicated to seed-stage investing, makes some 200 assets since its 2013 beginning, based on Crunchbase. It offers supported famous brands Winnie, Finix, Concentric AI, Mercury and Plaid, amongst others. Homebrew has actually seen at the least three dozen portfolio companies exit, including Cruise, Weave and Cheddar.

Most recently, it led the $12 million Series A round into Slang.ai, a platform that instantly answers the device for restaurants, stores as well as other forms of brick-and-mortar companies.

In March of 2022, Homebrew stated it might have an fund that is open-ended without any cancellation day.