Multimedia financial services company The Motley Fool launched its first outside venture fund and has raised $145 million, exceeding its initial goal of $100 million, the company told Technical.ly.

The early stage, tech-focused venture capital fund called Motley Fool Ventures is run by managing director Ollen Douglass and the $145 million was raised in less than seven months from 800 limited partners (LPs) living in 44 states and Washington, D.C., according to the company. Douglass stepped down from his role as chief financial officer at the firm in February, the Washington Business Journal reported.

The firm said it was able to raise such a large amount in its debut fund in such a short time from so many limited partners because it has spent the last 25 years building a community of individual investors who trust them and have made a lot of money relying on the Fool’s investing guidance.

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