Web Summit chief wants to raise $50m for venture capital fund

According to a filing with the Securities and Exchange Commission in the US, the fund will be called the Amaranthine Fund I LP

Paddy Cosgrave

Web Summit chief executive Paddy Cosgrave is seeking to raise $50 million for a new venture capital fund. According to a filing with the Securities and Exchange Commission in the US, the fund will be called the Amaranthine Fund I LP.

The fund is registered in Delaware but based in San Franscisco.

The general partners in the fund are listed as David Kelly, a co-founder of Web Summit, and Patrick Murphy. Cosgrave is ...