Unshackled Ventures, a San Francisco, CA-based pre-seed venture capital firm that enables immigrant founders to start companies in the U.S., closed Fund III, at $35m.
Unshackled Fund III LPs include Cambridge Associates, Cendana, Emerson Collective, California Infrastructure and Economic Development Bank (IBank), and Sorenson Impact Advisory, more than doubling its assets under management (AUM).
Led by Co-Founder and General Partner Manan Mehta, Unshackled Ventures is an early-stage venture capital firm that enables immigrant founders to start companies in the U.S. Since its founding in 2014, Unshackled has proven its thesis that investing and supporting this population drives strong investment returns across key industries, including American infrastructure, generative AI, healthcare, space, and enterprise SaaS. To date, the firm has invested in 80 companies and over 200 entrepreneurs.
The firm has already made 18 investments with Fund III including: Masa Finance, a web3 identify infrastructure layer; Cache Energy, a long-duration energy storage Company; and Formally, a generative AI legal tech company.
On July 18, Unshackled will be unveiling Eighteen150, a founder-in-residence program, supporting as many immigrant entrepreneurs as possible, regardless of their immigration status. The program will dedicate $5m of Fund III for complete immigration and employment support, offering founders $150,000 or 18 months of runway, for 10%
FinSMEs
27/06/2023