Announcing Also Capital’s $21M First Fund

Catalyzing the next wave of founders building the future

Today I’m proud to announce Also Capital’s first fund, an $21M vehicle catalyzing the next generation of exceptional hard tech founders.  

There’s never been a better time to pursue bold and ambitious purposes. Whether that’s commercializing nuclear power, expanding access to connectivity, or enhancing life on earth by increasing accessing space. Pursuit of these missions inspires optimism about the future, and they’re the types of things we want to help bring more of into the world.

We’re fortunate to now be able to do that in a much bigger way than ever before.

A few highlights about the fund and our LP base: 

• Strong Institutional Support: Close to 40% of fund commitments were from institutional LPs, including top tier endowments and foundations.  We view this as validation of our approach to early-stage investing in the hard tech category and are excited to have long-term partners like these so early in our firm building journey.  

• Broad LP Base: We've built a broad and deep LP base with a wide range of backgrounds, including top tier engineers, founders, family offices, HNWs, and FoFs.  No LP comprises more than 20% of the fund.    

• Founders Reinvesting in Our Platform: We're humbled to have 8 of our founders back us as LPs, despite many of them still being relatively early in their careers.

• VC Co-investor Backing: We have a number of amazing firms we work with frequently as LPs.  We're proud to have 10 partner-level VCs at established and emerging firms behind us. 

• Early Portfolio Traction: We already have six companies in the portfolio with many having already raised follow-on capital from top tier firms.  We've shared some publicly already and plan to share more in the coming months.    

With the closing of this fund we now have the privilege to advance to Phase 2 of Also Capital's Master Plan, scaling up our ability to back the most ambitious, cutting edge venture-backed companies in the world that are having fun, and playing to win.

Want to be inspired? 👇