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Based in Cambridge, Massachusetts, First Star typically backs robotics, blockchain, AI and machine learning-focused startups at the early stage. The firm has not disclosed a first close for its planned third f
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und, per a filing with the Securities and Exchange Commission, but if it goes on to raise the projected amount, it would represent a serious leap from First Star earlier funds.In 2014, the VC launched a debut $10 million fund under a different name Procyon Ventures , and it followed that up
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with a $25 million second fund in 2019, according to PitchBook. Its founding partners, Millie Liu and Drew Volpe, share ties to both MIT as researchers and MassChallenge, the Boston startup incubator as mentors .First Star did not immediately respond to a request for additional info on its plans for the new fund, but
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the investor recent deals offer a hint on where it focusing its energy lately. Deals the VC participated in this year include a $7 million seed round fo Iaub Workday to acquire external workforce management startup VNDLY for $510M
The investment was led by Accel with help from Sequ
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oia Capital India
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and existing investor Stellaris Venture Partners. The company reports it has now raised $5.7 million, including a pre-seed round last year.Deepak Anchala, company founder and CEO, says that while sales and marketing teams are trying to target a broad market, most of the time their emails and other forms of communication with customers fall flat. As a sales person in previous startups, Eightfold and Tracxn, this was a problem Anchala experienced first hand. He believed with data, he could improve this, and he started Slintel to build a tool to provide the sales data that he was missing in these previous positions. We focus on helping our customers solve that [lack of data] by identifying people with high buying intent. So we are able to tell sales and marketing teams, for example, who is most likely to buy your product or your service, and who
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is most likely to buy your product today, as opposed to two months or