Urban Innovation Fund III contains $101 million, which Managing Partner Clara Brenner toldTechCrunch will be doled out in checks averaging $1.5 million. The firm also put together a $20 million opportunity fund, which it can use to invest in later stages for breakout portfolio companies.
The fund is not gov tech exclusive; its mission is to invest in the future of cities. Its portfolio companies, of which it lists 44 on its website, range from HR software to water tech to financial technology. It’s enjoyed several exits, including the water utility tech business Dropcountr, which was acquired by Hearst Corp. subsidiary KUBRA in January.
Other gov tech bets from Urban Innovation Fund include the transportation data startups Ride Report and Route Reports, blockchain voting company Voatz and water management business Apana.
