Harvard-backed Xfund is preparing to raise a third fund to follow earlier vehicles targeting companies emerging out of the Harvard and MIT ecosystems.
Xfund, a US-based early-stage venture capital firm which counts Harvard University among its backers, is targeting the close of a third VC fund sized at $100m over the next 12 months, according to a regulatory filing.
The vehicle is yet to secure capital and its sector focus remains unclear, though Xfund’s earlier funds generally backed seed and series A rounds. Patrick Chung and Brandon Farwell, partners of Xfund, will both lead as managing directors.
Xfund launched in 2011 as a partnership between the university and VC firms New Enterprise Associates (NEA), Breyer Capital, Accel Partners and Polaris Partners.
Headquartered at the university’s campus, Xfund has supported companies including personal DNA testing provider 23andMe and financial intelligence product developer Kensho.
In addition to Harvard, Xfund’s first vehicle – reportedly sized at below $10m – also aimed to back entrepreneurs from academic communities such as Massachusetts Institute of Technology…
