The NYC Venture Capital Firm News Digest: 5/15/2020

This article originally appeared on Alley Watch.

Melitas Ventures, the early-stage venture firm focused on investing in food and beverages startups, is raising $60M for its second fund according to a recent SEC filing. Closed Loop was cofounded by Alex Malamatinas in 2017 and Fund I counts companies like Unioncrate, Beekeeper's Naturals, Dirtylemon, Bou, and Magic Spoon in its portfolio.

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COVID-19 has been a tough time for startups and the CSI Tech incubator is here to provide support and resources to NYC's startup community of entrepreneurs. Applications are open for our Virtual 2020 Cohort, which we will provide remotely. We specialize in digital strategy and helping startups find ways to effectively scale revenues and their teams digitally. Click here to learn more about our incubator program. Apply by May 31, 2020.

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Darshan Somashekar has joined Trail Mix Ventures, the wellness-focused venture firm started by Marina Hadjipateras and Soraya Darabi in 2016. Somashekar is an experienced operator in the NYC ecosystem having founded and sold Drop.io (acquired by Facebook) and Imagine Easy Solutions (acquired by Chegg). His personal investments include Impossible Foods and Fullstack Academy.
Somashekar, a graduate of Brown University, started his career as a consultant at Bain.

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Closed Loop Ventures, the early-stage investment firm focused on opportunities in the circular economy, is raising $50M for its second fund according to a recent SEC filing. Closed Loop was cofounded by Ron Gonen in 2014 and has made venture investments in companies like Amp Robotics, Altas Organics, For Days, Rebound Technologies, Thrilling, and Tradelanes.

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About Unioncrate

Unioncrate is an AI-powered Integrated Business Planning (IBP) platform that delivers demand forecasts with unmatched accuracy, collaborative visibility, and actionable intelligence—enabling CPG brands to plan and execute agile supply chain strategies at the click of a button.