Homebrew, the seed-stage venture capital firm whose portfolio companies include Chime and TheSkimm, is raising $90 million for its third fund, per an SEC filing. A source close to the situation says a final close is imminent, with most of the commitments coming from existing limited partners. (Update: It's closed)

Bottom line: It's still a bit too early to judge Homebrew from a returns perspective (despite some promising investments), so this fundraise reflects LP belief that the San Francisco-based firm has stuck to the strategy it originally promised.

Homebrew previously raised $85 million for its second fund, which included a $35 million "overage" fund to make pro rata investments in later rounds for Fund I and Fund II portfolio companies. This time it's a single vehicle, with expectations that the investment period will last four years instead of three.

Hunter Walk, the former Google/YouTube executive who co-founded Homebrew with ex-Twitter exec Satya Patel, declined comment.

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