3Lines Venture Capital successfully closes the first $5M tranche of its Rocket Fund
DENVER, Aug. 27, 2019 /PRNewswire/ -- 3Lines Venture Capital ("3Lines"), a Denver based investment firm, announced today that it has successfully closed on the first $5M tranche of its Rocket Fund. 3Lines' Rocket Fund aims to raise $30M from a curated network of Limited Partners, Family Offices, Fund of Funds and Institutional Investors with optionality to co-invest in emergent clusters of innovation. The Rocket Fund will invest in early-stage deep-tech companies in Cybersecurity, Artificial Intelligence, IoT, next-gen SaaS, Virtualization Platforms and Services. The fund will continue to seek investment opportunities which bring disruptive innovation to their sectors and those with good product-market fit and a unique ability to execute and scale. Rocket Fund will go beyond providing capital as it will open up access to its deep network of operating experts to the portfolio companies.
The 3Lines' earlier Fund-I enabled a low barrier-to-entry for Limited Partners with a strong technical and business expertise to participate in and gain from a global venture fund which they could not have had access to in the past. The portfolio of Fund-I now includes twelve early-stage companies in the US, one in India and in Australia each has great traction along a promising growth vector.
About 3Lines
3Lines (www.3Lines.vc) started out as an alternative investment opportunity company in 2017 for technology influencers in advanced software industries with an aim to leverage their expertise, international relationships and the capital for investment in early-stage companies in the US and India.
Most recently, Dr. Ashish Jain has joined 3Lines General Partners Mr. Krishna Kunapuli and Mr. Kamalesh Dwivedi. He was a Managing Director at GE Ventures where he co-created three industrial IoT and AI startups. Ashish holds a Ph.D. in Artificial Intelligence from Case Western Reserve University, an MBA in Finance and Entrepreneurship from the Wharton School of Business and a Bachelor's degree in Computer Engineering and Science from IIT Kanpur, India.
SOURCE 3Lines Venture Capital
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