Founded by former Taskrabbit CEO Stacy Brown-Philpot, Cherryrock Capital, $172 million on Wednesday on an All-Star Limited Partner List, including JPMorgan, Goldman Sachs, MassMutual and Reid Hoffman, a key venture from Melinda French Gates. announced that it has closed its fund. , Melody Hobson and Cheryl Sandberg.
Brown Philpot told Bloomberg that the fund actually closed in January.
The company was launched in 2023 during a difficult time for fundraising in the venture industry. As a result, Brown Philpot said it took about two years for the company to close me down, she told the outlet. Fund I'm trying to focus on companies in the Series A and B stages. In her announcement blog post, Brown Philpot notes that few companies focus on later stage investments for diverse founders.
Cherry Rock did not immediately respond to requests for comment.
Fund papers occur at a time when diversity initiatives, programs and focus are under political and legal shootings.
So far, Cherry Rock has supported two companies. Along with Emerson Collective, it is jointly showing the AI company's Joint AI Series B. Other investors included A16Z and Bessemer. Cherry Rock also invested in the Series A round of YC Health Company's Vaitl, along with City Impact Fund and First Round Capital.
The brown fill pot is highly accomplished. She previously worked for Alphabet and Google, and worked on boards of various companies, including Stockx and HP. She was also a founding member of the Open Opportunity Fund. This is a $100 million vehicle for Softbank's diverse founders.