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.