It was a busy fall for MissionOG.
Just last August, Technical.ly reported that the Center City venture firm had raised $19.3 million so far, up from the $9 million it had raised the year before. Now MissionOG is announcing the close of its first fund with $35 million in assets under management.
“We have benefitted from outstanding proprietary, high quality deal flow from our network,” MissionOG chairman and managing partner Gene Lockhart said in a press release. “This capital close allows us to not only support the growth opportunities within the current portfolio, but also invest in additional world-class companies.”
When asked what MissionOG’s next steps where and if there was a second fund opening in the near future, managing partner George Krautzel responded that “100 percent of our attention is on helping accelerate our portfolio companies to become great companies.”
Currently there are 11 companies in MissionOG’s portfolio. With a focus on early-stage, B2B-focused technology companies.
The portfolio includes a handful of Philly-area investments. MissionOG led a $3.35 million Series A for Conshohocken sales software startup Journey Sales in December. Other local companies in the MissionOG portfolio include PeopleLinx, Cloudamize and OneTwoSee.