Hustle Fund has raised $11.5m for its pre-seed fund, taking capital from Shanda, Line and Naver.

US-based venture capital fund Hustle Fund has closed its first fund at $11.5m, having secured capital from limited partners (LPs) including game publisher Shanda, messaging platform Line and internet company Naver, E27 has reported.

Hustle Fund 1’s LPs also include founders and executives of apparel retailer Zappos, customer experience software provider Optimizely and personal finance platform NerdWallet. It had set a $50m target according to a September 2017 securities filing.

The fund makes pre-seed investments in software developers based in…

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