Inspired Capital has reached a major milestone – the closing of its third fund, Inspired Capital Fund III, with a whopping $330 million in capital commitments. This brings the New York-based early-stage venture firm’s total assets under management to nearly $900 million.
“For me it’s sort of a real ‘pinch me moment,’ because I decided to devote the next many decades of my career towards finding the entrepreneurs that want to completely change what’s possible,” said managing partner Alexa von Tobel, who co-founded the firm in 2019 with entrepreneur Penny Pritzker. Partner Lucy Deland and COO Mark Batsiyan are also co-founders.
The firm’s success has been evident since its launch, raising $200 million for its debut fund and a whopping $281 million for its second fund in 2021. And now, with Fund III, backed by institutional investors such as leading endowments, pensions, and foundations, Inspired Capital is ready to continue its mission of supporting innovative startups and fearless founders.
Inspired Capital focuses on investing in pre-seed to Series A companies that are tackling the toughest challenges facing humanity. “As stewards of properly deployed venture capital, we believe it is one of the most powerful ways to change the world,” said von Tobel. The firm typically writes checks ranging from $1 million to $15 million.
With a portfolio of over 50 companies, which have collectively raised $1.5 billion in follow-on capital, Inspired Capital has made a name for itself in the venture capital world. Some notable investments include property tech startup Habi, employee ownership company Teamshares, business banking company Rho, and Paytient, a healthcare payment system.
The firm’s third fund will continue to support companies that align with its thesis of “An Inspired Future,” which encompasses various advancements such as digitizing the industrial economy, reimagining the modern workforce, and harnessing the power of AI.
To showcase its values and vision, Inspired Capital has also released a manifesto as part of the new fund. The manifesto highlights the firm’s beliefs, philosophies, and what it looks for in potential investments. “We want to work with founders who are fearless and reject the status quo,” said von Tobel. “We believe that there will always be significant problems to be solved, and we are ready to be their partners and teammates on that journey. In essence, we are going back to the core of what venture capital truly is.”
