With A Portfolio Including Acorns, Sweetgreen And Ro Health, Torch Capital Raises $60m For Its First Fund

Jonathan Keidan, the founder of Torch Capital, had already built a portfolio that included Acorns, Compass, Digital Ocean and Sweetgreen, before he raised single dollar for his inaugural venture capital fund, which just closed with $60 million. Keidan, a consummate networker who began his professional career as a manager working with acts like The Nappy Roots, The Getaway People and a young John Legend, just managed to be in the right place at the right time, he says (thanks, in part, to his gift for gab). The final close for Torch Capital’s first fund is just the beginning for Torch, which is angling to be one of the premiere firms for early stage consumer internet and consumer facing enterprise software. The firm began raising its first fund in October 2017 and held a $40 million first close just about one year ago.