Today we are announcing the closing of our newest fund — New Stack Ventures Fund II — a $42.6M fund supporting exceptional founders from outside the typical VC-Backed profile and pedigree. Following our first fund of $6M in 2018, our new fund allows us the freedom to invest in an additional 35 companies across the spectrum of Pre-Seed and Seed.
As covered first by TechCrunch, Fund II is continuation of our mission to break traditional tech stereotypes and provide greater transparency to the capital raising process. It's been a long road. As G.P. Nick Moran recounts to TechCrunch:
A lot of ingredients have to come together for it to work — a founder network, a talent network and a capital network. Raising the first fund, the thesis of investing in outsiders and the middle of the country was a difficult task. We just closed the second raise, and the thesis landed, and we have 100 investors and people who are motivated and excited. We think the bigger story is the migration of Midwesterners back to the Midwest who had to locate in the Bay Area for work. That has been a huge tailwind for us.
We are proud to now be one of the largest single-partner U.S. funds ever raised between the coasts, but we're not done yet. We're hiring and growing our team. If you'd like to join us on this journey of backing founders outside of the typical Silicon Valley profile, please feel free to reach out to us. We're Team@newstack.vc.
For more on our philosophy and the startups we choose to invest in, visit our website or check out the Full Ratchet Podcast or read more about us in the news below.
“Early-stage venture fund New Stack Ventures just raised $42.6 million for its second fund aimed at injecting capital into founders that don’t come from the educational pedigree or location that we typically see with entrepreneurs..."