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General Information

Websitebullpencap.com
Blogbullpencap.com
Twitter@bullpencap
Employees
Founded2010

Funds

Fund II, 6/2012 $35M

Offices

Menlo Park, USA
2108 Sand Hill Road
Menlo Park, CA, 94025
USA

People

Managing Director
Managing Director
Managing Director
Principal

Tags

Bullpen Capital

Bullpen Capital A new early-stage fund has formed to make follow-on investments in the slew of companies that have recently raised seed and angel funds.

Bullpen Capital is an early-stage venture fund being formed to make follow-on investments in Internet technology companies that have been initially funded by super-angel capital efficient funds. Extending the capital efficient model beyond the seed stage keeps options open for the founders and investors.

The rise of the super-angels is a capital market response to a new technology trend: the rise of the lean venture, typically an Internet service deploying fast-to-market technology which enables rapid market validation before large capital requirements. The super-angels are emerging as a natural response to a decades long over-sizing of venture firms, built more to fund the semiconductor factories of the past than Internet firms of today.

Bullpen works with its super-angel partners to:

  • Extend a seed round to give a start-up more time to prove itself
  • Fund a company requiring more early money than the usual seed deal
  • Restart a company that is a “fallen angel” but still has great promise
  • Fund a “rising star” needing a small B round it before it goes to VC auction

The lean model does not depend on the lightning strike of finding the rocket-ship that is immediately successful after its seed round. Almost every rocket-ship has a rocky start, requiring post-seed nurturing before ascending. This usually entails one or more “pivots”, in which a company’s basic direction must be changed to find its market. These changes are wrenching, and require additional capital before proof points are met. Bullpen’s major role is to lead post-seed stage rounds that support these pivots.

Recent Milestones

Investments

Company Date Round Size Participants
LiveIntent 1/2014Series C$20M3
Appboy 11/2013Series A$7.6M8
Betable 11/2013Series A$18.5M11
Jump Ramp Games 10/2013Series B$3M4
DoubleDutch 9/2013Series C$10M4
SendHub 9/2013Series A$3M10
Solve Media 6/2013Series B$6M6
Namely 6/2013Series A$3.35M5
CoverHound 2/2013Series A$8.18M4
FanDuel 1/2013Series C$11M5
GCLABS (Gamechanger LABS) 12/2012Venture Round$3.8M3
DoubleDutch 11/2012Series B$4M3
Mango Health 11/2012Seed$1.6M5
Namely 10/2012Seed$750k9
Perceptual Networks 9/2012Seed$1M4
Byliner 7/2012Series A7
Twenty20.com 6/2012Seed$1.7M8
Grassroots Unwired 5/2012Seed$600k1
echoecho 5/2012Seed$750k2
DoubleDutch 4/2012Venture Round$2M2
Lifecrowd 4/2012Series A$5M5
Tello 2/2012Series A$2.7M2
Engagio 2/2012Seed$540k6
Chartio 10/2011Series A$3.15M2
Life360 9/2011Series A$5.5M9
PixelFish 7/2011Venture Round$4M6
Ness Computing 7/2011Series A$5M4
Proformative 5/2011Seed$1.1M1
Desk 1/2011Series B$4M6

Videos

Sources

  1. Early Stage VC Bullpen Capital Raising $35 Million For New Fund, Filing Says (techcrunch.com) [edit]
  2. Bullpen Capital Targets $50M To Back Up Seeded Start-Ups (fis.dowjones.com) [edit]
    Ranker, “The World’s Ranking Platform,” Raises $2M From Lowercase And Others (techcrunch.com) [edit]
  3. Email Advertising Startup LiveIntent Raises $20M More (techcrunch.com) [edit]
  4. Appboy Raises $7.6M Series A To Bring Marketing Automation Tools To Mobile Apps (techcrunch.com) [edit]
  5. Betable Raises $18.5M in Series A Funding (finsmes.com) [edit]
  6. Citation Needed [add]
  7. Social Events Platform DoubleDutch Raises $10 Million Series C Led By Bessemer (techcrunch.com) [edit]
  8. SendHub Secures $3 Million Series A To Be The Mobile Alternative To Business Phone Systems (techcrunch.com) [edit]
  9. Solve Media Lands $6M From New Atlantic, First Round, AOL And Others For Its Fast-Growing CAPTCHA Advertising Platform (techcrunch.com) [edit]
  10. True Ventures Leads $3.35 Million Series A Investment in Namely (news.namely.com) [edit]
  11. SEC (sec.gov) [edit]
  12. FanDuel raises $11M for daily fantasy sports contests (venturebeat.com) [edit]
  13. Citation Needed [add]
  14. Mobile-First Enterprise Startup DoubleDutch Raises $4 Million Series B From Floodgate & Others (techcrunch.com) [edit]
  15. There’s An App For That: Mango Health Gives Rewards For Taking Your Vitamins, Medicine Every Day (techcrunch.com) [edit]
  16. Namely raises Lerer Ventures-led seed round to expand HR tools beyond ad agencies (pandodaily.com) [edit]
  17. Perceptual Networks Seeded With $1M for Optimal Friend Finder (pevc.dowjones.com) [edit]
  18. Byliner’s New Adventure in Publishing—A Talk with CEO John Tayman (xconomy.com) [edit]
  19. Instacanvas Raises $1.7M Round For Its Instagram Prints, Expands Its Product Offerings (techcrunch.com) [edit]
  20. Citation Needed [add]
  21. Google Ventures-Backed Location-Sharing Service EchoEcho Raises $750k From Bullpen, PROfounders (techcrunch.com) [edit]
  22. DoubleDutch Secures $2M To Sell Geolocation To Businesses (pevc.dowjones.com) [edit]
  23. Social events marketplace Lifecrowd raises $5M from Lightbank, Bullpen, others (venturebeat.com) [edit]
  24. Tello Raises $2.7M From True Ventures To Give Businesses Consumer Feedback On The Fly (techcrunch.com) [edit]
  25. Engagio goes from the comment section to a $540K seed investment (venturebeat.com) [edit]
  26. Dashboard Creation's Chart.io Raises $3.15M (thealarmclock.com) [edit]
  27. Life360′s Family Safety App Grabs $3.5 Million Series A (techcrunch.com) [edit]
  28. PixelFish Raises $4 Million To Help Small Businesses Tap Into Web Video (techcrunch.com) [edit]
  29. With $5 Million In Their Pockets, Ness Has Quietly Built A Subjective Search Engine (techcrunch.com) [edit]
  30. Proformative Announces $1.1M in Series A Funding (prweb.com) [edit]
  31. techcrunch.com [edit]
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Last Edited 3/6/14

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