GV Advisor Lo Toney Has Raised $35.1M For VC Fund Plexo Capital I
Lo Toney, an advisor at Google Ventures and former investing partner there, has raised $35.1 million for his venture-capital fund, Plexo Capital, which was formed inside GV.
Plexo Capital raised the $35.1M in a single venture fund, Plexo Capital I. This fund was announced on March 12,
Plexo Capital is an offshoot of Google Ventures and specializes in backing seed funds led by people of color and women. Plexo acts as a limited partner and invests directly in some of its portfolio companies.
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In March 2018, Toney said he intended to leave GV, the venture capital arm of
Toney raised the $35.1 million for Plexo Capital I, according to an amendment to an SEC filing, dated March 8, 2019, PR Hub reported.
The fund attracted capital from 18 investors and has a target of $50 million. You can read the filing here.
Plexo Capital has one team member — founding managing partner Toney.
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The driving force behind Plexo is that minority and women investors are