Billionaire Family-Backed Firm Raises $100 Million Venture Fund

An investment firm founded by Jeff Bezos’ younger brother and a US private equity veteran that focuses on consumer bets has raised its first venture fund.

HIPstr, the venture arm of Mark Bezos and David Moross’ HighPost Capital, raised $100 million from investors including rich individuals and institutional firms for early-stage deals outside its traditional buyout focus, the West Palm Beach, Florida-based firm said Thursday in a statement.

HIPstr has already acquired stakes in half-a-dozen startups, including residential-fencing platform EverFence and a vodka soda-maker founded by Kylie Jenner. It led a $10 million Series A fundraising ...