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.