Strawberry Creek Ventures, an investment division of Alumni Ventures Group, is looking to raised $4m for its maiden fund.
The vehicle, Strawberry Creek Ventures Fund 1, has yet to register any capital, but it has a minimum contribution of $50,000 from outside investors, according to the latest US SEC filing.
A placement agent has been indicated on the filing, with it active in California only, but there is no name given.
The firm is a venture fund built for Berkeley, California alums and its investment strategy sees it co-invest with ‘strong, established’ lead investors. Each fund tends to make between 15 and 30 investments which are diversified by stage, sector and geography.
Its current portfolio contains companies from a range of sectors including, FinTech, IOT, CleanTech, HealthTech, and robotics.
Last year, the firm took part in the $12m funding round of generation Z credit card provider Deserve. Its investment was made alongside Accel, Aspect Ventures, Pelion Ventures, Mission Holdings and GDP Venture.
The platform aims to help consumers that do not have a credit card get access to one, by using algorithms to predict credit potential, based on attributes including education, current financial health, and future employability.
Strawberry Creek is a part of the Alumni Ventures Group, which operates a number of different dedicated alumni venture funds. Some of its other regional funds include Yale, Wisconsin, MIT, Penn, Columbia, Dartmouth, Brown, Harvard, Cornell, Northwestern, and Stanford.
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