Moderne Ventures Closes over $230M for MV Fund III
– Moderne Ventures, a generalist venture capital and growth equity firm, has raised over $230 million for MV Core Fund III, surpassing the $200 million raised for MV Core Fund II.
– This new fund increases the firm’s total assets under management to over $500 million.
– The firm has made over 35 investments and supported over 150 Passport companies, generating top-tier returns across its funds.
– Prior to Moderne, Freedman launched and managed Second Century Ventures, leading early investments in companies like DocuSign, Updater, and August.
– Moderne’s notable exits include Porch, Homesnap, and TaskEasy, with other key investments in ICON, Caribou, Proof, Measurabl, Xeal, and Qloo.
– GCM Grosvenor’s Vice Chairman, Derek Jones, expressed enthusiasm for participating in Core Fund III, citing Moderne’s impressive track record and value-add strategy.
– Moderne Ventures distinguishes itself by focusing on bringing customers to its portfolio companies through its unique immersion program, the Moderne Passport.
– The firm operates as a sector specialist but generalist investor, providing deep vertical expertise while investing in companies outside its core sectors.
– Moderne is a woman-owned firm with a diverse team, comprising 70% women and minorities.
– The firm’s Core Funds target technology companies with $2-20 million in revenue and have achieved top-tier returns.
– Moderne Ventures plans to raise its first Growth Fund this year to further invest in high-growth portfolio companies and add high-performing later-stage companies to its platform.
– This new fund increases the firm’s total assets under management to over $500 million.
– Notable institutional investors include GCM Grosvenor, the Illinois Growth and Innovation Fund, and strategic partners like AvalonBay, Essent, and Leading Real Estate Companies of the World.
– Moderne Ventures is led by Founder and Managing Partner Constance Freedman and Partner Liza Benson.
– The firm has made over 35 investments and supported over 150 Passport companies, generating top-tier returns across its funds.
– Prior to Moderne, Freedman launched and managed Second Century Ventures, leading early investments in companies like DocuSign, Updater, and August.
– Moderne’s notable exits include Porch, Homesnap, and TaskEasy, with other key investments in ICON, Caribou, Proof, Measurabl, Xeal, and Qloo.
– GCM Grosvenor’s Vice Chairman, Derek Jones, expressed enthusiasm for participating in Core Fund III, citing Moderne’s impressive track record and value-add strategy.
– Moderne Ventures distinguishes itself by focusing on bringing customers to its portfolio companies through its unique immersion program, the Moderne Passport.
– The firm operates as a sector specialist but generalist investor, providing deep vertical expertise while investing in companies outside its core sectors.
– Moderne is a woman-owned firm with a diverse team, comprising 70% women and minorities.
– The firm’s Core Funds target technology companies with $2-20 million in revenue and have achieved top-tier returns.
– Moderne Ventures plans to raise its first Growth Fund this year to further invest in high-growth portfolio companies and add high-performing later-stage companies to its platform.