Better Ventures Fund III Launched
We’re thrilled to announce that we’ve launched Better Ventures Fund III and have made two investments out of the new fund, which we’ll announce soon (one in urban micro-mobility and the other in bioinformatics). Our first close in August was anchored by two well known institutional investors along with a family office and a number of other returning investors from Fund II. We’re now more than halfway to our $35M fund target with a robust pipeline of investor interest for our upcoming final close. We’re on the hunt for 20+ mission-driven technology companies to add to the portfolio, so please don’t hesitate to reach out if you have a deal to share. We’re particularly interested in startups focused on the future of work, health informatics, clean meat/plant-based foods, and smart cities.
In other news, we recently moved into a beautiful new brick-and-timber office loft in the heart of Uptown Oakland, which gives us room to grow, host events, and launch new initiatives. With all the extra space, we’re launching a Mission Driven Entrepreneurs-in-Residence (EIRs) program to help underrepresented Oakland-based founders get their mission-driven technology companies off the ground. EIRs will get rent-free access to our space for up to six months along with mentorship from the Better Ventures team, while we’ll get early looks at potential investments. If you know of any founders that meet our criteria, please send them our way!
Lastly, we’d like to officially welcome our new Associate, Jessica Eastling, who joins us from Zola Electric (formerly Off-Grid Electric), a highly successful off-grid energy company that has raised over $200M to bring affordable clean energy to Sub-Saharan Africa. Jessica has a BS and MS in Earth Systems from Stanford and is passionate about building a more sustainable world by backing companies in the circular economy. If you’d like to meet her or see our new office, please feel free to drop in anytime or join us for our next First Friday Mission Driven Cocktails event!