The venture firm also rebranded as Album VC, a move it explained by saying that it wants to help “founders [create] their best work,” making the new moniker an homage to music production.
The firm formerly known as Peak Ventures is best known for its work in Utah.
While it expects Fund III to be “primarily domestic,” Album VC will cut checks around the United States; in Fund II, the investing group put capital to work on both coasts and in between.
Speaking with Krommenhoek this week, Crunchbase News learned more about Fund III and how Album VC may invest the funds.
Krommenhoek expects Fund III to invest in between 20 and 24 companies, up from Fund II’s 20.
Among the two dozen possible new investees, Album expects to keep investing in SaaS, given what Krommenhoek called “muscle memory.” Utah-based startups are best known for building SaaS companies, making Album’s investment goals a good fit for its home state’s scene.