Prominent investment firm raises $30 million fund

SAN FRANCISCO Fri Jan 11, 2013 6:02pm EST

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SAN FRANCISCO (Reuters) - SV Angel, the prominent early-stage investment firm, has raised a new $29.7 million fund, according to a filing at the Securities and Exchange Commission.

SV Angel III-Growth follows on the heels of SV Angel III, the firm's $20 million 2011 fund. Managing Partner David Lee did not immediately reply to an email asking if the new growth fund is to make additional investments in promising companies from the 2011 fund.

Last year, SV Angel said in a filing that it was raising $40 million for a new fund, SV Angel IV.

The firm, founded by Silicon Valley investor Ron Conway, is known for making early investments in companies such as lodging service Airbnb, online retailer Fab.com, travel site Hipmunk, payments service Square, microblogging service Twitter, gaming company Zynga, and others.

(Reporting By Sarah McBride; Editing by Bernard Orr)

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