Inspired Capital closes $450 million fourth fund
The New York firm adds fresh dry powder as it keeps backing early-stage companies across both coasts.
Inspired Capital has raised a $450 million fourth fund, lifting its assets under management to nearly $1.4 billion and giving the New York firm fresh capital as more venture money continues to concentrate on the West Coast. The firm, founded in 2019 by Alexa von Tobel and Penny Pritzker, says it will keep backing about 10 companies a year from napkin stage through Series A, with checks from $1 million to $15 million. Von Tobel says the first two funds have produced 12 unicorns, more than 10 exits and a second fund that she says sits in the top 5% of its peer group. The portfolio is split about 45% East Coast, 45% West Coast and 10% elsewhere, and Inspired says it is still willing to lead later rounds and use secondary purchases selectively.
Why it matters
For founders, the new fund means Inspired can keep writing early checks and stay involved as companies grow, rather than stopping after the first round. For the market, its portfolio split and continued focus on New York show that venture capital is still flowing outside Silicon Valley, even as money remains concentrated on the West Coast.
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Sources
- TechCrunch