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Fuse raises more than $100M, adds Bay Area tech vet Brendan Wales as third founding partner

The information: , a longtime Bay Area tech startup investor, has joined Seattle-based enterprise capital agency as its third founding common partner. Fuse has additionally raised practically $120 million for its first fund.

Fuse background: The agency launched final yr as a by-product from . Wales will be a part of former Ignition colleagues  and  as the founding common companions. Others on the crew embody longtime Ignition managing partner and Seattle Seahawks star Bobby Wagner, together with and .

Why Fuse? Wales mentioned he relocated his household to Seattle “to assist construct a permanent know-how funding agency.” The College of Georgia grad beforehand spent 9 years with international funding agency e.ventures.

Although Seattle’s startup ecosystem pales compared to Silicon Valley — from firm creation to enterprise capital {dollars} accessible — Wales sees large alternative.

“Having a smaller — albeit quick rising — pond permits Fuse to turn into more ingrained within the ecosystem,” he mentioned. “Although one can presumably obtain that within the Bay Area, it requires more time and capital.”

Why Seattle? “From a quality-of-life perspective, my household was drawn to the varied geographical setting and down-to-earth but formidable and entrepreneurial tradition that’s omnipresent right here,” Wales mentioned.

Contemporary money: Two new SEC filings present that Fuse has raised not less than more than $118 million for its first fund. Carter declined to touch upon the specifics of the fundraise.

What’s subsequent? Fuse is concentrated on B2B software program investments throughout the Pacific Northwest. Wales mentioned he’s bullish about startups constructing developer instruments, open supply software program, marketplaces, and SMB enterprise software program. He led a latest funding for Fuse in , a note-taking startup primarily based in Seattle that .

“As we glance to spice up tech innovation within the underfunded Seattle ecosystem, Brendan’s expertise in backing and constructing high-growth know-how corporations just isn’t solely a boon to FUSE, however to innovation within the Pacific Northwest,” Carter mentioned in a press release.

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Editor’s word: This story and headline had been up to date with particulars about Fuse’s fund. 

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