Tugboat Ventures has launched its inaugural fund with more than $43 million in commitments from 13 investors, according to a regulatory filing.
The firm was founded by David Whorton, a former general partner at Texas Pacific Group Ventures and an associate at Kleiner Perkins Caufield & Byers.
The firm has raised commitments from such LPs as Horsley Bridge, Knightsbridge Venture Capital, The Vanderbilt University and Legacy Ventures.
The early stage firm promises to “get under the young company’s skin” and help it through its “’drunken walk’ phase.”
Whorton has had experience working with early stage companies both as an investor and as an entrepreneur. He founded Good Technology, a wireless messaging company; co-founded Drugstore.com, an online retailer; and helped launch the Newschools Venture Fund, a philanthropy group. —Alexander Haislip