Inspired Capital celebrates its fifth anniversary with the closing of Inspired Capital Fund III with a capital commitment of $330 million. This new amount brings the firm's total assets under management to nearly $900 million.
The early-stage New York-based venture was founded in 2019 by entrepreneurs Alexa von Tobel and Penny Pritzker. They raised $200 million for their debut fund and $281 million for their second fund in 2021. Partner Lucy Deland and chief operating officer Mark Batsyan are also co-founders.
Fund III is backed by institutional investors including major endowments, pensions and foundations.
“For me, this is a real ‘pinch moment’ because I have decided to dedicate the next few decades of my career to finding entrepreneurs who are going to completely change what is possible. ,” von Tobel told TechCrunch. “Venture capital, if deployed properly, is actually the most powerful economic engine the world has ever seen. And, deployed properly as true stewards of venture, it is the most world-changing He is one in a powerful way.”
Inspired Capital leads Series A pre-seed investment in what Managing Partner von Tobel describes as “fearless founders looking to solve the toughest challenges facing humanity” . The company writes him a check for $15 million out of his $1 million.
He has amassed a portfolio of over 50 companies and has raised cumulative follow-on funding of $1.5 billion. Notable investments include real estate technology startup Habi, currently valued at $1 billion. Employee-owned company team share. Business Banking Company Law. Paytient has developed a system for paying medical bills over time.
As with his previous fund, von Tobel plans to invest in 25 to 30 companies in his third fund, making about 10 investments a year.
Inspired Capital will also continue to invest in a wide range of companies that build an “Inspired Future,” in line with the firm's theme of “Innovations that dramatically move the world forward.” This could include, for example, the digitization of the industrial economy, the reorganization of the modern workforce, the monetization layer of the internet, unlocking the potential of AI, and balancing finance in unstable societies.
As part of the new fund, Inspired Capital has created a manifesto highlighting how venture capital firms think, what they believe and what they want. Among them, von Tobel said, is how the company wants to build large companies that accept very big risks and solve big problems.
“There are always big, wicked problems that need to be solved for humanity,” she said. “We are looking for founders who are fearless, who reject the status quo, who believe the world deserves better. Entrepreneurs who want to do something important, we are here to help. I know I'm ready and waiting to be their partner and teammate. In a way, it's like going back to the roots of what a venture is all about.”