According to a new SEC filing, investor Chris Sacca is raising as much as $25 million for his new fund, Lowercase Spur. As Bloomberg BusinessWeek reported a month ago, Sacca is in the process of raising capital for Lowercase Spur, which is set to invest in startups over the next ten years. It was unclear how much Sacca would be raising, but according to this filing, that number could be around $25 million.
Sacca raised nearly $50 million in 2010 for Lowercase Capital, and operates a number of funds. Lowercase I appears to invest early-stage startups, and Sacca operates another $1 billion fund that buys secondary market shares of companies such as Twitter and Facebook.
There are also two funds are jointly run with New York-based investors, and are focused on taking large public companies private in Hollywood, transportation and wireless. A fifth fund buys founder shares of early stage companies under the Lowercase brand
According to the Bloomberg report from March, Sacca’s first fund Lowercase I, is worth 5.3 times its original value and has returned all capital to the limited partners. The newwest fund, Lowercase Spur, is being used partly to invest additional dollars in companies which were funded via Lowercase I.
Sacca’s previous investments include Uber, Dotcloud, Gumroad, Liftopia, Milk, SimpleGeo, Fanbridge, DailyBooth, Posterous and Stickybits.
We’ve contacted Sacca and will update if he comments.
