Moderne Ventures Surpasses $230 Million in Latest Funding Round

Moderne Ventures Raises Over $230 Million for MV Core Fund III

CHICAGO – Moderne Ventures, a generalist venture capital and growth equity firm specializing in industries such as real estate, finance, insurance, and sustainability, recently announced the successful closing of its MV Core Fund III, exceeding expectations by raising over $230 million. This amount not only surpasses the oversubscribed $200 million from MV Core Fund II but also elevates the firm’s total assets under management to more than $500 million.

Notable Investors and Strategic Partnerships

The fund has attracted significant institutional investors, including GCM Grosvenor and the Illinois Growth and Innovation Fund, along with major strategic partners such as AvalonBay, Essent, and Leading Real Estate Companies of the World. These partnerships reflect the growing confidence in Moderne's unique value proposition and the traction it is gaining in the venture capital space.

Top-Tier Venture Returns

Under the guidance of Founder and Managing Partner Constance Freedman and Partner Liza Benson, Moderne has successfully executed over 35 investments and supported over 150 Passport companies across its three funds, consistently generating top-tier venture returns. The firm’s focus on innovation and its robust portfolio include standout companies such as DocuSign [NASDAQ: DOCU] and Porch [NASDAQ: PRCH].

The Unique Approach of Moderne Ventures

Moderne’s approach fundamentally differentiates it in the realm of venture capital. The firm employs a strategy that not only invests capital but also focuses on bringing customers to its portfolio companies. This is achieved through its industry immersion program, known as the Moderne Passport, which connects promising startups with a network of over 1,500 executives and corporate partners.

Diversity and Inclusion as Core Values

Another key distinguishing factor of Moderne Ventures is its commitment to diversity. As a woman-owned firm, it boasts a diverse team comprising 70% women and minorities. This dedication to inclusivity enriches the firm's innovative capacity and aligns with modern corporate values.

Expanding Portfolio and Strategic Focus

Moderne’s portfolio targets technology companies with $2 to $20 million in revenue, aiming for high growth potential. Some notable investments include ICON, a company innovating in AI and robotics for construction, and Caribou, an automobile refinancing platform, both of which illustrate the variety and potential of Moderne's investment strategy.

Looking Forward: Plans for Growth Fund

Looking ahead, Moderne Ventures is preparing to launch its first Growth Fund, which aims to further support its highest growth portfolio companies and introduce additional high-performing later-stage companies to its ecosystem. This strategic move reaffirms the firm's commitment to fostering innovation and partnership.

About Moderne Ventures

Moderne Ventures is a strategic venture capital and growth equity firm with over $500 million in assets under management and a solid 16-year track record of delivering superior returns. The firm focuses on technology companies within the multi-trillion-dollar sectors of real estate, finance, insurance, and sustainability, reflecting its mission to invest in areas ripe for transformation.

By emphasizing partnerships and innovative connections through its extensive network, Moderne has invested in over 150 companies, demonstrating its ability to drive value and growth in the highly competitive venture capital landscape. Companies like DocuSign, Caribou, and Homesnap have all benefited from Moderne’s strategic insights and industry connections.

Frequently Asked Questions

What is MV Core Fund III?

MV Core Fund III is the latest fund from Moderne Ventures, which raised over $230 million to invest in innovative technology companies across various industries.

Who are the key investors in MV Core Fund III?

Notable investors include GCM Grosvenor, the Illinois Growth and Innovation Fund, AvalonBay, and Essent.

What is the mission of Moderne Ventures?

The mission of Moderne Ventures is to invest in tech companies that operate within multi-trillion-dollar industries and to foster partnerships that drive growth and innovation.

How does Moderne Ventures support its portfolio companies?

Moderne supports its portfolio companies through its unique industry immersion program, the Moderne Passport, which connects them with a vast network of executives and corporate partners.

What sets Moderne Ventures apart from other VC firms?

Moderne Ventures stands out due to its focus on bringing customers to its companies, its commitment to diversity, and its sector specialization mixed with generalist investment strategies.

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