We are very pleased to share that we have closed ff Rose and its sister fund ff Rose Innovate -- in aggregate, our third fund. ff Rose will invest in new, game-changing ideas and businesses and will also invest in current portfolio companies that are achieving growth and success.
This has been a huge year for the Firm. We planned to raise $50 million and ultimately raised $52 million in capital. Coincidentally, this is the same level of oversubscription that we saw with ff Silver Venture Capital Fund, LP, our last fund, which was targeted at $25 million and closed at $27 million. We have continued to reinvest our management fees in services for our portfolio companies and have tripled our team to 20 employees – all dedicated to supporting and empowering our amazing portfolio company founders.
We welcome many new investors to the ff Venture Capital family, including New York State’s Empire State Development (Innovate NY Fund), Goldman Sachs, and the New Jersey Economic Development Authority (NJEDA), and thank our existing limited partners for their continued support.
ff Venture Capital’s core philosophy is that transparency and creativity combined with passion will produce exceptional results. As a team, we are excited to continue following this strategy. With the successful close of the ff Rose fund, we are excited to continue investing monetary and intellectual capital into visionary entrepreneurs who are changing the lives of millions of people.