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

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.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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