Tribeca Venture Partners, a New York-based early-stage venture firm founded in 2011, is today announcing that it has closed its second fund with $107 million — significantly more than its $65 million debut fund.
That’s good news for New York startups. In a conversation earlier this week with Brian Hirsch and Chip Meakem — Tribeca’s cofounders and its sole investors (still) – they talked at length of their near-exclusive focus on the startups in their own backyard.
That somewhat unique positioning apparently resonated with LPs. (Of the 25 companies backed with their first fund, 21 are based in New York.)
As Hirsch and Meakem readily concede, it also helps that Tribeca secured most of its LP commitments before the third quarter of last year, well in advance of the…