Brooklyn Bridge Ventures eyes larger fund

Charlie O’Donnell, founder of Brooklyn Bridge Ventures, would like to be running a second, larger fund, almost twice the size of his current one, according to the Wall Street Journal.

That would be big news for the Brooklyn tech scene: O’Donnell is one of its biggest boosters.

He tells the Journal he’s discussing the new fund with his current partners.

Mr. O’Donnell said his second fund could increase in size to $15 million or $20 million from the $8.3 million in his current pool. Mr. O’Donnell has started discussing a second fund with his limited partners, he told Venture Capital Dispatch.

A larger fund, he said, would allow Mr. O’Donnell to take more of each deal and avoid the complications of seeking co-investors in a New York landscape that he said has become tougher for very-early-stage companies.

Read the full story on WSJ.com