Exclusive: OATV preps fall fundraising drive

Jul 31, 2012

FORTUNE -- O’Reilly AlphaTech Ventures plans to begin marketing its third fund this fall with a $75 million target, Fortune has learned. This is a slight bump over the $60 million it raised for Fund II in October 2010.

OATV is one of the original "micro-VC" firms, looking to invest somewhere between individual angels and more traditional venture capitalists. Kind of like Floodgate, which just raised its own $75 million fund.

The San Francisco-based firm typically likes to lead deals, and holds around 3x its original investment in dry powder for follow-ons. Notable portfolio companies include Bitly, Codecademy and Foursquare. Exited deals include TripIt (acquired by Concur for $120m), Instructables (acquired by Autodesk) and Parakey (acquired by Facebook).

It is managed by Bryce Roberts and Marc Jacobsen, with Tim O'Reilly/O'Reilly Media also serving as a general partner.

Roberts declined to comment on the fundraising process.

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