Inspired Capital Closes Fourth Fund with $450M as New York Gains Venture Momentum
Inspired Capital has successfully closed its fourth venture capital fund with $450 million in commitments, bringing the firm’s total assets under management to nearly $1.4 billion. Founded by Alexa von Tobel and Penny Pritzker in 2019, Inspired continues to grow despite a surge of VC activity on the West Coast. The Bay Area has raised over half of all U.S. venture capital since 2020, but Inspired’s latest fund highlights New York's increasing role as an alternative hub for early-stage investing. The firm maintains its disciplined approach by backing around ten companies annually with check sizes ranging from $1 million to $15 million at various stages—from napkin ideas to Series A. Von Tobel reports that 12 of the first two funds’ investments have become unicorns, and several others achieved significant revenue milestones or exits, including MosaicML’s acquisition by Databricks for $1.3 billion. Inspired is also expanding its investment strategy beyond early-stage deals while sticking to niche themes like physical AI and quantum computing. The firm remains active in both coasts but emphasizes New York's appeal as a stable talent hub with less employee turnover compared to Silicon Valley.
Topics: Bay Area VC market early-stage investing Inspired Capital VC fundraising
Read the full article at TechCrunch
Part of the story Inspired Capital Closes $450M Fund IV with Strong Track Record of Backing Unicorns (2 articles)