There’s about to be a new seed fund in town, focused specifically on startups in the retail space. Bzzagent CEO and angel investor Dave Balter is running a new fund for dunnhumby, the customer science company that acquired Bzzagent for $60 million back in 2011.
No word on the size of the fund, named dunnhumby Ventures. But Balter told me it will aim to invest in eight to ten companies a year, writing checks in the range of $200,000-$400,000. He also said the fund has already made its first investment.
The fund’s focus will be around technology to improve “path to purchase,” as well as retail data, according to Balter. He will also be helping dunnhumby with some M&A activity.
Balter’s also hiring for the fund, complete with this very creative analyst opening.
Balter told me the new role will not impact his investing as a part of Boston Seed, and called the two efforts “complementary.”