VC Firm Torch Capital Raises Second $200 Million Fund

Torch Capital, an early-stage venture firm, raised $200 million for its second fund, The Information is first to report.

The New York-based firm, which has $400 million in assets under management, has backed startups including investing platform Acorns, real estate company Compass and salad chain Sweetgreen. Its creator economy investments include Kyra, a video content studio that connects creators with advertisers; Lili, a banking startup aimed at freelancers; and Durable, which offers an AI-powered website builder.