Social Impact Capital (SIC), a NYC based solo female GP venture capital firm, closed its first fund, at $42M.
Led by Sarah Cone, SIC will make broad investments in companies tackling global challenges such as climate change, health, supply chains, and food systems.
In June, SIC’s first investment, OpenInvest, was acquired by JP Morgan, and last month they had two investments reach unicorn status:
- Prometheus Fuels, an electrofuels company that makes jet fuel, gasoline, and diesel from carbon taken out of the air.
- Andela, a company that identifies the best remote engineering teams in the world and connects them with companies needing engineering talent.
Social Impact Capital’s portfolio now consists of 30 impact companies, including MentenAI, Aether Diamonds, Charm Industrial, PreAct and Emitwise.
SIC’s companies have a 100% follow-on financing rate and a 94% follow-on rate by top-tier investors overall. Many of those investors have supported the fund as LPs, including Founders Fund’s co-founder Peter Thiel, Andreessen Horowitz’s Marc Andreessen & Chris Dixon, True Venture’s co-founder Phil Black, Craft Venture’s co-founder David Sacks, Rob Hayes (led Uber’s Seed Round), Eric Ries, founder of the Long Term Stock Exchange, along with family offices, RIAs, and fund of funds.
FinSMEs
04/11/2021