Long-time San Diego entrepreneurs and investors Al Bsharah and Neal Bloom have launched a new $10 million investment fund that builds on the success of their earlier syndicate of angel investors.
Their Interlock Capital syndicate launched in 2020 has made 17 investments into 16 companies with $3.6 million raised from 276 investors.
Among the companies in the portfolio are neighborhood grocery delivery firm Mercato, Omitron Sensors and the soccer club San Diego Loyal.
The new fund is a more traditional venture capital vehicle, with investors participating in the growth of as many as 50 companies by writing a single check.
It will target the same local tech startups, but allow more investors to participate without the complexities of participating in a syndicate.
“The types of deals we get into will continue,” said Bsharah. “The only thing that will change is the new fund will probably do more deals.”
“We are entrepreneurs and are very risk tolerant,” said Bloom. “Being entrepreneurs, we’re willing to talk to companies early and be first-money-in.”
While they expect to fund more startups, the two say they will continue draw on their network of advisors and experts for help supporting these new companies. “This help can go farther than the capital,” said Bloom
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