In BriefPosted:5:48 PM PST January 22, 2025Image Credits:Getty ImagesRaymond Tonsings Caffeinated Capital seeks $400M for fifth fundCaffeinated Capital, a San Francisco venture firm started by a solo capitalist Raymond Tonsing, is raising a fifth fund of $400 million, according to a regulatory filing.The firm, an early investor in software company Airtable and defense startup Saronic, has already raised $160 million toward the fund. If Caffeinated hits its target, it will be the 15-year-old firms largest capital haul date. Although the outfit didnt announce its previous fund, PitchBook data estimates that Caffeinated closed its fund four with a total of $209 million in commitments.Although Tonsing was Caffeinateds only general partner until four years ago, Varun Gupta, who led data science and machine learning at Affirm, joined him as a second general partner in 2020.Tonsing was an early investor in Affirm, a buy-now-pay-later platform that went public in 2021. The firms other notable exits include A/B testing startup Optimizely, which PitchBook estimates was sold for $600 million in 2020.Topics