Hunter Walk, formerly of Google and Satya Patel, formerly of Twitter, are in the process of fundraising for their new VC firm to be called Homebrew, Fortune’s Dan Primack reported Wednesday. Walk wrote in a blog post Wednesday that he has left Google for “new adventures,” although he did not specify what those were.
Fortune has reported that the two are raising $25 million for their fund, which will look to back companies that “enable the people-based economy.” It supposedly would include less than a dozen companies, with half managed as an incubator might and half given seed funding. That’s not a huge fund, or certainly not in comparison to some more established funds, like Greylock’s $1 billion or Andreessen Horowitz’s $1.5 billion, but the two have experience in investing and product experience in the Valley, and it’s certainly larger than blogger Ben Parr’s #DominateFund, which was supposedly in the single digits.
Walk was most recently head of product management at YouTube with Google, and is an active angel investor. He was previously a founder with Linden Labs. Patel left Twitter in June 2012 after serving as the company’s VP of product. He was previously a partner with Battery Ventures and before that a product manager at Google working on AdSense.