Today our friends over at Fortune wrote about Bowery Capital III as well as the progress and evolution here since our founding in 2013. You can read about it on their site but the quick bits about us remain the same. We remain committed to building a thesis driven venture capital firm and will remain focused on the greatest area of value creation today: business software. From a stage standpoint, we really love working with founders at inception and decided to keep our fund size relatively consistent as a result. $70MM allows us to keep this focus partnering at formation or seed stages. Finally, we still believe going from zero to one on the revenue line is the main critical path to success and as a result our Acceleration Team will double down in this area. More on this in another post.
More importantly and as part of the Bowery Capital III fundraise, we are now all pleased to be able to announce that Loren Straub has been promoted to General Partner. Loren has been with the firm for over five years. She has evolved as a member of the investment team starting as an Associate and moving up the ranks to Principal. She's led competitive investments for us in some amazing companies and the follow on activity from her companies has been equally impressive. Her advice and support of our portfolio companies has been equal parts life saving and game changing and the founders in our portfolio have benefitted from her in major ways. Beyond this, she's been the cornerstone of our efforts on the west coast having moved in 2019 to set up an office for us in San Francisco. We will talk more about that evolution in a follow up, but I am all thrilled to welcome her to the partnership here.
In the coming weeks, we will be posting more about Fund III, some of our key areas of investment focus, and some other new initiatives we have in store. Stay tuned and thanks for spending the time with us.
