Less than a year after launching a new growth-stage venture capital fund for high net worth investors, New York City-based RIA GoalVest Advisory revealed its first close of that fund, allowing the investment process to begin.
GoalVest Venture Growth Fund II is targeting a $50m raise for deployment across various sectors, particularly artificial intelligence (AI) and fintech-focused firms. With the initial close, which reeled in $10m, GoalVest will continue raising capital and filling the remaining slots available for investors on Fund II over the next six to 12 months.
Blair Cohen, managing partner of GoalVest Venture Capital, which runs the fund, told Citywire that Fund II’s slots are roughly 60% full upon this first close. While Fund II has not officially deployed any capital, Cohen said the expectation is the first deal will be completed before the end of the month.
