News & Insights
Maveron Closes 8th Fund at $225M
Maveron closed its 8th fund at $225 million and we are thrilled to have the opportunity to back more of tomorrow’s great consumer entrepreneurs on their journey from obscurity to ubiquity.
Twenty four years ago, Maveron was built on a set of key beliefs. We believed in the power of technology to transform the lives of consumers. Over the last two decades, we witnessed the evolution of the internet, mobile devices, social graphs, ecommerce, and just how powerful technology can shape behavior and our zeitgeist. We’ve been fortunate to partner with some of the most trailblazing consumer founders who have leveraged technology to improve the lives of consumers, from Meg Whitman at Ebay who pioneered online marketplaces, to Afton Vechery at ModernFertility who catalyzed the women’s fertility market, to Tim Brown and Joey Zwillinger who reshaped a footwear industry to be more sustainable.
Just as fervently as we believe in the power of technology, we equally believe what distinguishes good from great are companies that have a set of values woven into the company’s DNA. Investing in companies with a purpose isn’t a platitude, but something we seek out in the entrepreneurs we back, and something that is the cornerstone of building an enduring consumer brand. We live what we preach and, as a B Corp, we back entrepreneurs who value both profit and purpose, and believe they can co-exist and thrive together.
As we reflect back on the last twenty four years of our investment history, we have seen many new technologies come to market, we’ve seen many downturns and bubbles, and we see a world today where consumers (rightfully) demand better. We spend our days at Maveron grappling with questions such as: how do cities and housing change as people spend more time at home and less time in downtowns? How do companies attract workers in today’s gig economy? How will high energy prices and inflation impact what consumers buy? Will crypto and web3 models change the governance and structure of new brands?
We are incredibly excited by the potential to truly partner with unapologetically non-normal founders who want to take on the big problems of today and tomorrow. We invest in only 6-8 companies a year, take a Board seat and then everyone on the Maveron team rolls up our sleeves and works in service of the entrepreneur’s vision. We believe in true partnership, which allows our team to be lean and agile, and highly responsive to the needs of our founders.
Concurrent with launching Fund 8, we have promoted two stars on our team. Natalie Dillon has been promoted to partner, after joining us four years ago and becoming the consummate expert on the way Gen Z and millennials think, spend money and behave. She is loved by the entrepreneurs she works with, at Daring Foods, Parade and Dolls Kill. Jerry Lu has been promoted to principal. With background as both a YouTube data scientist and media investor, Jerry has become the face of Maveron in New York. He has leveraged both his data science skills and strong entrepreneurial and influencer networks to source investments for Maveron, including Brewbird, Stageglass and Free Agency.
We are also delighted to share that Grace Chou will join the Maveron team as a partner in Fund VIII. We have known Grace for years, and have long viewed her as one of the most promising stars in the consumer venture ecosystem. Grace is joining us from Felicis, with an impressive track record that includes both Elemy and TrialSpark – two unicorns she sourced and led for her previous firm. Founders she has worked with speak glowingly of her rigorous work ethic, deeply collaborative nature, and positive disposition.
The best businesses emerge in times of upheaval. At Maveron we cannot wait to continue to back the dreamers and visionaries who work tirelessly to change the fabric of our society.
Onwards!
The Maveron team
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