Wing Venture Capital has announced Wing Two, a technology startup fund. The $250 million fund follows up the inaugural fund in 2013, which was $111 million.
“Today we announce Wing Two, our second fund and the next step in Wing’s evolution as the best-of-breed venture capital firm devoted to early-stage, long-term company building in business technology,” says Wing venture capitalist Peter Wagner. “We are honored to have the support of the industry’s most sophisticated investors, including many of the world’s leading universities and private foundations.”
Wing Two could have been a billion-dollar fund, according to Wagner, but as he notes, “capital has gravity,” and excess capital would pull the fund toward later-stage deals, which Wing Two aims to avoid.
“The size of Wing Two has been carefully optimized to support the capital needs of ambitious companies while not exceeding the scaling limits of Wing’s quality-driven craftsmanship method,” Wagner says.
Wagner says his fund employs what Wagner dubs “The Wing Method,” an ever-evolving philosophy that looks to maximize each startup’s potential from infancy.
“We’re honored to be working with the incredibly talented founders of our existing portfolio companies, and we’re hugely excited at the prospect of helping more bold entrepreneurs to realize their dreams as we begin investing Wing Two,” he says.