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January 9, 2024

Former Plaid, Robinhood, and Ramp Maestros Team Up for a $75M

An early-stage VC firm, boldly steps into the arena with the launch of a groundbreaking $75 million fund

Exponent Founders Capital, a New York-based early-stage VC firm, unveils its latest move – the launch of a $75 million fund. In a landscape where venture investments are experiencing a four-year low, Exponent Founders Capital's Fund II emerges, building on the success of its initial $50 million fund raised in 2021. The fund, oversubscribed by entities like nonprofit endowments and hospitals, boasts an impressive list of limited partners, including Carnegie Mellon University, Cook Children’s Health Care System, LGT Capital Partners, Next Legacy Partners, and more.

This new fund, Fund II, charts a strategic course, targeting inception and early-stage companies across diverse sectors such as enterprise software, fintech, payments, infrastructure, applied AI, and vertical SaaS. With a geographical focus on the US, Canada, and Europe, Fund II aims to make a significant impact with investment check sizes ranging from $500,000 to $5 million, securing a 5% to 10% ownership stake in the backed companies.

Founded in 2021 by Charley Ma and Mahdi Raza, both ex-executives of Ramp and Robinhood, Exponent Founders Capital stands as a testament to their commitment to providing long-term support to startups navigating the challenging journey from $0 to over $100 million and beyond in revenue. The duo brings a wealth of experience, with Ma contributing his expertise from Plaid and Ramp, while Raza's background includes roles in fintech and technology investment banking at Evercore, investment at GIC, and operational experience at Robinhood and Stytch.

The fund's founders emphasize their hands-on approach, drawing on their extensive experience to be high-leverage investors for startup founders, aiming to back non-consensus innovators and guide them towards becoming tomorrow's category leaders. As Exponent Founders Capital continues its journey, the tech world awaits the impact of Fund II on the startup landscape.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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