Moderne Ventures Secures Over $230 Million for MV Core Fund III
CHICAGO – Moderne Ventures, a venture capital and growth equity firm that focuses on sectors like real estate, finance, insurance, and sustainability, has successfully closed its MV Core Fund III by raising more than $230 million. This amount exceeds expectations, surpassing the oversubscribed $200 million from MV Core Fund II. With this, the firm’s total assets under management now exceed $500 million.
Key Investors and Strategic Collaborations
The fund has garnered support from prominent institutional investors such as GCM Grosvenor and the Illinois Growth and Innovation Fund, as well as key strategic partners including AvalonBay, Essent, and Leading Real Estate Companies of the World. These collaborations highlight the increasing confidence in Moderne's distinctive value and the momentum it is building within the venture capital arena.
Exceptional Venture Performance
With Founder and Managing Partner Constance Freedman and Partner Liza Benson at the helm, Moderne has successfully completed over 35 investments and assisted more than 150 Passport companies throughout its three funds, consistently achieving impressive venture returns. The firm's commitment to innovation is evident in its portfolio, which features notable companies like DocuSign [NASDAQ: DOCU] and Porch [NASDAQ: PRCH].
Moderne Ventures’ Distinctive Strategy
What truly sets Moderne apart in the venture capital landscape is its distinct approach. The firm not only invests capital but also prioritizes connecting portfolio companies with customers. This connection is facilitated through the Moderne Passport, an industry immersion program that pairs promising startups with a network of over 1,500 executives and corporate partners.
Core Values of Diversity and Inclusion
Another significant factor that distinguishes Moderne Ventures is its strong commitment to diversity. Being a woman-owned firm, it proudly boasts a team that is 70% made up of women and minorities. This dedication to inclusivity not only enhances the firm's innovative potential but also aligns with contemporary corporate values.
Growing Portfolio and Strategic Direction
Moderne focuses its investments on technology companies generating between $2 to $20 million in revenue, targeting those with substantial growth potential. Among its noteworthy investments are ICON, which is revolutionizing AI and robotics for the construction sector, and Caribou, an automobile refinancing platform—both of which exemplify the breadth and promise of Moderne's investment strategy.
A Glimpse Ahead: Plans for a Growth Fund
As it looks to the future, Moderne Ventures is preparing to launch its first Growth Fund. This new initiative aims to bolster the firm’s highest-performing portfolio companies while also bringing additional successful later-stage companies into its ecosystem. This strategic move underscores the firm’s dedication to fostering innovation and collaboration.
About Moderne Ventures
Moderne Ventures is a strategic venture capital and growth equity firm that manages over $500 million in assets and boasts a 16-year track record of delivering exceptional returns. The firm zeroes in on technology companies within multi-trillion-dollar sectors such as real estate, finance, insurance, and sustainability, reflecting its mission to invest in industries poised for significant transformation.
By prioritizing partnerships and leveraging its expansive network, Moderne has invested in over 150 companies, showcasing its capability to generate value and foster growth in the competitive venture capital field. Companies like DocuSign, Caribou, and Homesnap have all gained substantially from Moderne’s strategic insights and industry ties.
Frequently Asked Questions
What is MV Core Fund III?
MV Core Fund III is the latest fund launched by Moderne Ventures, which raised over $230 million to invest in innovative technology companies across various sectors.
Who are the primary investors in MV Core Fund III?
Key investors include GCM Grosvenor, the Illinois Growth and Innovation Fund, AvalonBay, and Essent.
What is the mission of Moderne Ventures?
Moderne Ventures aims to invest in tech companies operating in multi-trillion-dollar industries while fostering partnerships that promote growth and innovation.
How does Moderne Ventures assist its portfolio companies?
Moderne supports its portfolio companies through the Moderne Passport, a unique industry immersion program that connects them with an extensive network of executives and corporate partners.
What differentiates Moderne Ventures from other VC firms?
Moderne Ventures is recognized for its focus on connecting portfolio companies with customers, its commitment to diversity, and its blend of sector specialization with generalist investment strategies.
