Stephen Curry's Penny Jar Capital Files to Raise Fund II

Penny Jar Capital Launches Fund II Fundraising

Penny Jar Capital, the venture capital firm established by Bryant Barr and Richard Scudellari, has initiated the process of raising a second fund. Notably, basketball player Stephen Curry holds the position of special advisor within the firm.

An SEC filing from October indicates that Fund II is being offered without a predetermined target fundraising amount.

Separate Collective Fund Also in Development

In addition to Fund II, Penny Jar Capital has filed to raise capital for a distinct entity known as Fund II Collective. This offering, too, currently lacks a specified target amount.

Requests for comment sent to Penny Jar Capital by TechCrunch have not yet received a response.

Firm's History and Previous Funding

The firm initially filed to establish Fund I in June 2021, as documented in an SEC filing. While this initial filing remains unupdated, PitchBook reports the fund successfully closed that September, though the exact amount raised has not been publicly disclosed.

To date, Penny Jar Capital has reportedly made approximately 18 investments, according to PitchBook data. The firm’s website currently lists 14 portfolio companies.

Notable Investments

Among the companies backed by Penny Jar Capital are Upwind, a provider of internet security solutions, Ducky, a platform focused on work automation, and Praxis Labs, an online learning platform for employees.

Athlete Involvement in Venture Capital

Penny Jar Capital’s launch in 2021 marked Stephen Curry’s entry into the growing trend of athletes investing in technology and venture capital.

Other prominent athletes involved in venture capital include Kevin Durant, founder of 35V, Serena Williams, with Serena Ventures, and Giannis Antetokounmpo, who recently announced plans to launch his own venture firm.

Founders' Backgrounds

Prior to founding Penny Jar Capital, Bryant Barr served as Stephen Curry’s business manager and president of SC360, the organization responsible for managing Curry’s brand and business interests.

Richard Scudellari previously held the role of investment partner at SC360.

Curry's Role in Investment Strategy

Stephen Curry actively contributes to the firm by identifying potential investment opportunities and providing support to portfolio companies, working to maximize their impact, as stated on Penny Jar Capital’s website.