Penny Jar Capital's New Fund II

Penny Jar Capital, the burgeoning early-stage investment firm co-founded by Bryant Barr and Richard Scudellari, with NBA superstar Stephen Curry as a special adviser, has officially filed to raise a new Fund II, as disclosed in a recent SEC filing from October. Intriguingly, the firm has not specified a target amount for this new fund, leaving many investors eager to see the firm's next moves.

Fund II Collective Initiative

In addition to Fund II, Penny Jar Capital is also looking to establish what appears to be a distinct initiative titled Fund II Collective, which similarly lacks a target fundraising goal. These filings signal Penny Jar's ambitions to expand its reach in the competitive world of venture capital.

Recap of Fund I

The firm is no stranger to fundraising; it previously submitted the necessary filings for its first fund, Fund I, back in June 2021. Although details remain scarce, reports suggest that this initial fund closed in September of the same year with an undisclosed total raised. According to PitchBook, Penny Jar Capital has engaged in about 18 investments to date, although its official website lists 14. Notably, these investments span various sectors, including internet security with Upwind, work automation platforms like Ducky, and online employee training solutions through Praxis Labs.

The Trend of Athlete-Led Ventures

Founded in 2021, Penny Jar Capital reflects the growing trend of professional athletes delving into the realms of technology and venture capitalism. With Curry setting a precedent, he joins an elite group of sports figures who are also making significant strides in this field. This includes Kevin Durant, who launched 35V, Serena Williams with Serena Ventures, and Milwaukee Bucks star Giannis Antetokounmpo, who recently announced plans for his own venture firm.

Key Players and Their Roles

Bryant Barr, who previously served as Curry's business manager, plays a key role in the firm, along with Scudellari, who has experience as an investment partner at SC360—the entity that manages Curry's brand ecosystem. In his role at Penny Jar, Curry is involved in scouting investment opportunities and is committed to driving meaningful growth and impact for the firms in their investment portfolio.

Future Outlook

As Penny Jar Capital continues to carve its niche in venture capital, industry watchers will be keenly observing how Curry and his team leverage their unique backgrounds to identify and nurture the next generation of groundbreaking companies.