NextGen Venture Partners reported Tuesday that it raised more than $42 million for its second fund, nearly double its initial haul three years ago.
The $42.68 million in new funding comes about a year after the venture firm first indicated plans to raise a fund, according to a Securities and Exchange Commission filing. Though, those efforts were delayed by its acquisition in early 2018 by Baltimore investment giant Brown Advisory. While Tuesday's filing lists Brown Advisory CEO Michael Hankin as the top executive, NextGen co-founders Dan Mindus and Brett Gibson both remain managing partners, per the website, and still work in the D.C. area, according to their LinkedIn profiles.