- Looks to broaden LP base with Fund III
- Firm’s founders include several investment banking veterans
- Anthos has invested in Machine Zone, Munchery, Trunk Club
Anthos recently filed a Form D revealing it is targeting $300 million for its third fund. A limited partner source who has heard the fundraising pitch said Anthos has expanded the scope of its fundraising for this vehicle, reaching out to a broader base of potential investors than it did with prior funds.
Update: Anthos managing partner Bryan Kelly said the firm closed Fund III on $300 million earlier this month. Fundraising took four months and the firm did not use a placement agent, Kelly said.
The firm, which makes venture capital and growth investments, focuses on consumer-oriented companies. Anthos participated in a $4 million Series A round in food delivery service Munchery in 2013, a $5.3 million Series A round for mobile gaming company Machine Zone Inc in 2011, and an $11 million Series A round for men’s clothing service Trunk Club in 2011.
Anthos targeted $70 million for its second fund in 2013, according to a Form D filing, and apparently exceeded that amount. Its latest Form ADV filing shows Fund II with gross asset value of about $82.7 million.
Anthos, with offices in Menlo Park and Santa Monica, started life with backing from Goldman Sachs executives. The firm was founded by Gavyn Davies, John Hagerty, Thomas Healey, Bryan Kelly, Paul Farr and Eff Martin. Kelly and Farr are listed as managing partners on the firm’s website and they appear on the firm’s Form D filings as managers of the firm.
Kelly previously worked at Goldman Sachs in the investment banking division and equity derivatives group. Farr was previously with Summit Partners and also worked as an associate in the investment banking division of Goldman Sachs, where he focused on telecom, media, healthcare and consumer products.
Three other co-founders also worked at Goldman:
- Davies was a partner and chief economist at Goldman. He also co-founded hedge fund of funds Prisma Capital Partners and was chairman of the British Broadcasting Corp.
- Healey was a Goldman partner and managing director, creating the real estate capital markets and pension services groups. In addition, he founded Healey Development, co-founded Prisma Capital Partners and was assistant secretary of the Treasury for domestic finance under President Ronald Reagan.
- Martin was also a partner and managing director at Goldman, where he led investment banking coverage of tech companies, including Adobe Systems, Agilent Technologies and Apple.
The firm’s sixth co-founder, Hagerty, previously was a partner at Healey Development and spent 20 years at Salomon Brothers and Merrill Lynch.
Anthos also lists three special advisors on its website: Chip Adams, chief performance officer at founder of Rosewood Capital, Howard Behar, former president of and Wallace Hawley, co-founder of venture firm InterWest Partners.
Anthos got into a public spat in 2012 with CrossFit co-founder Greg Glassman after offering to buy a 50 percent stake in the company from Glassman’s ex-wife. The issue was resolved when Glassman bought out his ex-wife’s stake, with the help of a $16 million loan from Summit Partners, according to media reports from the time.