In 2015, Kaldykulov formalized his efforts with former college classmate Arik Crissi to create micro venture capital firm Elefund.
The early investments in three hot startups served as a driving force to bring in Elefund’s limited partners, Kaldykulov tells Forbes.
Elefund just raised $30 million for its second fund, as originally reported in the Midas Touch newsletter, a notable bump from its first $9 million fund.
The firm likes to write checks around $1 million and plans to build a portfolio of 25 to 30 companies from this capital pool.
This will also be the first fund including Elefund general partner Nate Rodland, a cofounder and former COO of Robinhood.
Kaldykulov declined to talk about Robinhood specifically, given the company’s registration, but his firm invested at the seed round in 2013.
Add that to Carta and Calm, and Elefund expects to return 25x its $9 million first fund.