HighPost Capital, the private equity firm run by Mark Bezos and Jeff Bezos' younger brother and PE veteran David Morrows, has launched a new venture capital arm called HIPstr, which will provide new capital to invest in startups.
The new firm just announced its first VC fund, worth $100 million. HighPost Capital focuses on consumer companies, while HIPstr seeks to capitalize on startup valuations that have fallen dramatically over the past few years, Bloomberg reports. The fund has already invested in six early-stage startups, including Kylie Jenner-launched liquor company Wild Common and makeup service provider After.com, which raised a $10 million Series A round last month.
