Despite investing in 21 digital commerce start-ups, some of them prominent, Forerunner Ventures has stayed in the shadows until now.
On Thursday Forerunner Managing Partner Kirsten Green stepped forward to announce the firm’s first institutional fund, a $40 million fund for mobile, social and e-commerce start-ups that was raised in five months and closed last week.
Current Forerunner portfolio companies, which will transfer to the new fund, include Birchbox, which delivers monthly samples of beauty products to customers’ doors, and Bonobos, which claims to have developed better-fitting men’s clothes.
