Early-Stage VC Torch Capital Closes $200M-Plus Fund to Fuel Consumer Tech Startups 

Consumer tech focused early-stage venture firm Torch Capital closed over $200 million across two funds, a $116 million second flagship fund and an $89 million first opportunity fund. to continue investing in tech-enabled brands and platforms that can power the consumer ecosystem.

With more than $400 million in assets under management, the NYC-based firm, which was founded in 2018 by entrepreneur Jonathan Keidan, has backed startups including investment platform Acorns, Sollis Health and Lili Bank.

It has seen the exits of luxury streetwear e-retailer Highsnobiety, which was acquired by Zalando last year, Sweetgreen and real estate company Compass, which both went public in 2021.

Notable investments through the second fund include Embed, a clearing and custody platform for brokerages that was already sold to an undisclosed buyer, and Little Otter, a mental health provider.

“We back companies transforming entire consumer verticals, using technology to make products and services more accessible, transparent, and affordable,” said Keidan.