HighPost Capital, a private equity firm run by Mark Bezos, Jeff Bezos’ younger brother, and PE veteran David Moross, has launched a new venture capital arm called HIPstr. And with it, fresh capital to invest in startups.
The new entity just announced its first VC fund of $100 million. HighPost Capital focuses on consumer companies and HIPstr aims to take advantage of dramatically lower startup valuations of the past couple of years, Bloomberg reported. The fund has already invested in half a dozen early-stage startups including Wild Common, a liquor company started by Kylie Jenner and After.com, a cremation services provider that raised a $10 million Series A round last month.
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