Unusual Ventures raises $400m

The American firm closes its second seed-stage venture fund.

Unusual Ventures held a final close on Monday of Unusual Ventures Fund II at the fund’s $400 million target. The firm typically invests in North American enterprise and consumer IT companies at the earliest stage of venture funding, the seed stage.

Unusual’s first fund, Unusual Ventures Fund, raised $160 million and closed in July of 2018. The fund debuted with the creation of the firm.

Unusual Ventures was co-founded by a former Lightspeed Ventures partner.