Better Ventures Fund II Raises $6M in First Close
Two Investments Completed and Actively Seeking New Deals
We normally reserve this space for portfolio news, but we wanted to steal the limelight momentarily to announce that we held our first close for Better Ventures Fund II on October 2nd! We're thrilled to welcome a world-class group of investors into our second fund, including Brad Feld (Foundry Group), Tina Ju (Kleiner Perkins China), Arno Harris (Recurrent Energy), John McAteer (Google), Charly and Lisa Kleissner (KL Felicitas), Jason Seats (TechStars), Libby Cook (Wild Oats), Abacus Wealth Partners, and many others. We're officially open for business, and we've hit the ground running with two new investments. The first was a follow-on investment in Fund I portfolio company SunFunder, which just closed a$2.5M Series A round led by Khosla Impact, and we'll be announcing a second deal soon. We are actively sourcing new genesis- and seed-stage opportunities now, so please feel free to send deals our way.
If you'd like to learn more about our investment themes and criteria, be sure to check out the Approach page on our website. In short, we look for technology startups with exceptional and "complete" co-founded teams (including a technical person) working on a minimum viable product that direclty impacts a big and important problem in the world. We're currently seeking deals in several verticals including virtual work platforms, education technology, mobile health, connected car/alternative transportation, and the transition to renewable energy. We make initial investments of $100k-250k (plus more through follow-on), and we prefer to get involved at the genesis and seed stages, which is where we can be most catalytic with startup development and fundraising support.
Please feel free to reach out if you'd like to learn more about our investment approach or our fund. We're planning a second close on the fund soon and a final close next year. Lastly, if you come across Bay Area-based entrepreneurs who are just getting started, please feel free to refer them to our Startup School at Impact Hub Oakland. If you would like more timely updates on Better Ventures, please follow us on Twitter (@BetterVentures) and AngelList.
Rick & Wes