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Venture

Charles Hudson’s Precursor Ventures Targets $40M For Its Third Flagship Fund, Filings Show

On Tuesday afternoon, filed paperwork with the SEC for its third flagship venture capital fund.

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At the time of filing, no capital has yet been raised; however, it bears mentioning that it’s common for venture investors to file their Form D immediately prior to calling down at least some pre-committed capital from limited partners.

Precursor Ventures is managed by , the firm’s sole general partner. Prior to starting his own firm, Hudson served in a variety of operating roles, including starting a couple of companies. Hudson cut his teeth as a venture investor at (formerly known as SoftTech VC) where he served in alternating venture partner and partner roles over his more than eight years with the firm.

Hudson, one of the all-too-few black general partners operating in venture today, is also on the teaching team for Entrepreneurship from Diverse Perspectives, a course at Stanford’s Graduate School of Business.

The firm’s investment team consists of and , two black women with extensive startup and financial management experience. , an ex-Googler with prior founding experience, is working on a new financial technology venture as an EIR at the firm.

If fully raised, Fund III will be the firm’s largest yet. Precursor Ventures closed out in February 2019, nearly one year and four months after taking down its first LP commitments.

Precursor raised a little more than $15 million for its first fund, which closed out in late 2016.

Since the firm’s formation in October 2015, Precursor has primarily focused its investment dollars on seed and pre-seed deals. On its website, Precursor Ventures that it’s committed to investing in companies’ first institutional rounds, typically committing between $100,000 and $250,000 to that first round, with reserves for follow-on investment.

The firm adds that it is “committed to investing in founders who represent a wide variety of backgrounds in terms of gender, race, background, academic experience and life circumstances.”

The firm’s recent investments include organization management software company , childcare-as-a-benefit company , and AI-enabled radiology reporting software company .

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