Revel Partners holds first close on $20m

Revel Partners has held a first close for its New York- and Dusseldorf-based venture fund on $20.64m.

Revel Venture Fund II is targeting $50m and has so far secured commitments from 21 investors.

The vehicle is registered in New York but will invest in early-stage technology startups on both sides of the Atlantic.

General partners Chris Young, Joseph Apprendi, John Vincent and Thomas Falk of Falk Ventures are listed as related persons to the vehicle.

Investors
The fund has secured commitments from 21 accredited investors, according to an SEC filing.

Investments
Revel invests $500,000–3m in seed funding and series-A rounds for marketing software companies in the US and western Europe.

People
Revel Partners – Chris Young, Joseph Apprendi, John Vincent (general partners).

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