Four years after the fact that VC companies were accidentally launched, GTMFUND's founder and General partner Max Altschuler gathered the second $ 54 million funds. He was aiming for $ 50 million.
GTMFUND is one of the “operator LED” funds. In other words, a limited partner investor is a successful high -tech company (known as a “operator” in VC terms) or who is currently working.
“They have just been working in the current company, or have just finished running at a company whose profits have reached $ 200 to hundreds to hundreds of millions,” Altschurer tells TechnicCrunch. LPS contains people such as AWS, Openai, Procore, Rippling, and SnowFlake.
These LPs are mainly marketing and selling experts and are called GTMFUND because they are called “go to the market” in silicumba levere species.
In addition to donating cash, LPS will help you guide the portfolio company in the sales strategy, which is an area where many startups require help, and hire sales representatives. They also help them find and evaluate young startup companies worth investing.
The first fund started in 2021 had about 250 operators and several institutional investors. AI Composer Writer (equivalent to $ 1.9 billion in the last salary increase in November), AI Data Center Tech ATLAN (lasted $ 150 billion with $ 750 billion), security compliance Vanta (2,45000) We supported companies such as $ 150 million in $ 10,000. ) Especially.
As a result, FUND II has collected 300 operators LPS and six institutions, including Bain Capital Ventures, HarbourVest, INOVIA CAPITAL, and Franklin Park.
And Altschurer noticed that he had been swept away to lead an uprising emerging fund.
It was not really his first intention. Altschuler was once 8th in Udemy's employee and sold early. He later helped the startup community server, advised some startups, and then launched his own blog called a sales hacker. He wrote an early check for an angel investment and for gong and carbon health.
Altschuler's considerable network continued to ask him to show the Angel Investing method. So he decided to try it.
He sent the list of GTMs by email and shared his ideas. “What if I collected $ 1 million between 20 and 50, put it in 10 companies, and supported those companies meaningfully?” He suggested. “And it has become a gang busters. We will procure $ 22 million for Fund I.”
The fund's LPS can choose not only to help, but also to help you, from silent investment to very involved in portfolio companies. GTMFUND also has a community function, like a trading flow channel that can be chatted by LPS. In addition, six dinner and annual retreat are held a year.
“It's just the labor of love for me. It's very fun,” he said. “It's the same as our LPS. I love all of these different founders and all of these different companies to support this kind of niche topic of GTM.”
The structure of the GTMFUND operator fund is not common, but it is not unprecedented. For example, MALLUN YEN established the operator Collective in 2019, released from Gate for $ 45 million, raised the second $ 92 million in 2022, and there is an enviable portfolio. Another recent example is Ashley Mayer's Coalition, which was released for $ 12.5 million in 2022.
Regarding the second GTMFUND fund, Altschurer is a check -sized $ 500,000 to 1.5 million dollar, backing a company of about 40 early seeds, seeds, and occasionally series A. I mentioned it.