VC News 1 | 71/70 Angels launches in Ohio
ResilienceVC has announced the close of its debut, oversubscribed fund.
70/71 Angels:
71/70 Angels, the Ohio angel fund that invests in enterprise software and advanced technology start-ups nationwide, has announced the launch of its first fund to fuel seed stage start-ups and close critical funding gaps for high-growth companies.
Supported by a committed group of individual angel investors and backed by the investment capabilities of Rev1 Ventures, 71/70 Angels expects to deliver a streamlined process that helps entrepreneurs and their lead investors amplify their vision and secure the right funding to scale.
“Angel investors are a critical piece of a thriving innovation economy, and that’s why it’s important to provide more opportunities for them to invest time and money to support founders in the right ways,” said Tom Walker, Chief Executive Officer at Rev1 Ventures. “This fund builds upon the success of the Ohio TechAngel Funds and the experience of Rev1 Ventures to help both companies and investors succeed. Columbus is an important hub of innovation, and because of the quality of corporate partners, startups, and investors here, we are confident we can continue growing a meaningful community that brings more people into angel investing while supporting companies all over the country.”
Click here to read the news release announcing the new fund.
ResilienceVC:
ResilienceVC, a seed stage venture capital firm that invests in fintech start-ups driving financial resilience for all Americans, has announced the close of its debut, oversubscribed fund. With its inaugural fund attracting a diverse range of strategic investors and its management of early-stage investments for the Discover Financial Health Improvement Fund, the firm’s total assets under management stand at more than $56 million.
Focused on early stage fintech companies, ResilienceVC is reshaping the venture capital landscape by combining purpose-driven investing with a commitment to top-tier financial returns.
“When people have easy access to high-quality, relevant, and affordable financial tools through channels they are already familiar with, they are able to increase earnings, reduce expenses, mitigate risks, and build assets,” said Tahira Dosani, Co-Founder and Managing Partner of ResilienceVC. “This is a win-win as it creates financial resilience for Americans as well as more stable, loyal, and profitable customers for the companies providing those services. Our deep experience operating and investing in companies that serve underserved consumers has given us a deep understanding of the challenges and opportunities in this space. We’re better able to source, screen, and support companies that are generating measurable value and delivering best-in-class returns.”
The new firm, founded in 2023 by Dosani and Vikas Raj, is located in Washington, DC.
Slow Ventures:
According to a report in The Drop, investment group Slow Ventures says it has amassed $60 million, which it is looking to invest in creator-led businesses. Distributed via a vehicle called the Slow Ventures Creator Fund, the company is looking to back digital-first talent that combines creative prowess with the commercial skills to scale up their businesses.
An established player in the digital-first ecosystem, Slow Ventures is aiming to support around 20 creators with investments in the $1m-3m range. The new fund is overseen by Slow Ventures Co-Founder Sam Lessin, a former Vice President at Facebook.
The fund is looking to back creators that have built strong followings in specialist areas like automotive or gardening, rather than creator-celebrities. It says the fund is “betting on a new generation of founders who’ve built their community first and their business afterward – an inversion of the traditional VC-backed founder.” In return for their investment, Slow Ventures typically looks for a 10 percent stake in the business.
Perplexity AI:
A report in PYMNTS indicates that Perplexity AI is reportedly creating a $50 million venture fund focused on U.S.-based pre-seed and seed artificial intelligence (AI) start-ups. The company, which is an AI start-up itself, will be an anchor investor in the fund, but outside limited partners will provide most of the capital, CNBC reported last week, citing unnamed sources.
Reached by PYMNTS, Perplexity declined to comment on the report.
It was reported in December that the company closed a $500 million funding round earlier that month, with its backers including SoftBank, Nvidia, and Amazon Founder Jeff Bezos. The round tripled Perplexity’s valuation to $9 billion. Also last week, Perplexity announced that it plans to launch its own web browser, dubbed Comet, and invited people to sign up on a waitlist.
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