Hawke Ventures, an LA-based venture capital firm, secured $25 million for a second venture fund.
Investors that took part include the Banc of California; former LegalZoom executives Chris Welker and Dorian Quispe; CMO of Ruggable, Linda Lai; Maropost Ventures; Executive VP and Chief Administrative Officer of BLT Enterprises, Daniel Rosenthal; and others.
What Happened: In 2019, Hawke Ventures was born out of Hawke Media, a large marketing consultant that is led by founder and CEO Erik Huberman and has assisted in the growth of over 3,500 brands.
This $25 million raise that will help with supporting best-in-class entrepreneurial companies working to reinvent business comes after a $5.6 million raise which Hawke invested in companies including PostScript, among others.
In a statement to Benzinga, Huberman said the development allows leaders such as the Banc of California to get into venture capital while expanding participation and awareness.
“For Hawke Ventures and Hawke Media, this fund is 5-10 times larger than that of the previous, which shows that the initial thesis and strategic advantage they assumed has now been proven,” he said.
Why It Matters: Hawke’s investment thesis is focused on investing between $1 and $2 million in Pre-Seed and Seed deals across marketing, advertising, and e-commerce technology companies where the venture firm already has established relationships.
Banc of California’s CEO Jared Wolff also added that this development is mostly about embracing new technology and opportunities that will lead to innovation and growth.
“We’re thrilled to be an investor in Hawke Ventures’ latest fund. Hawke has a track record of helping companies succeed through their marketing and technology expertise, and Banc of California helps its clients grow through our expertise and best-in-class treasury management and lending solutions.” Wolff said. “Together, we will be able to accelerate the progress of companies we invest in.”
