Benchstrength Closes First Fund with Investment from Prominent Institutions and Individuals

Benchstrength, a venture capital firm based in New York City, has successfully closed its inaugural fund with notable support from various investors, including the Ford Foundation, GCM Grosvenor, Goldman Sachs Asset Management, Churchill Asset Management, Fairview Capital, Bank of America, Citi Impact Fund, General Catalyst, Village Global, The Kapor Foundation, The Equity Alliance, and First Close Partners.

Led by former General Catalyst investors Ken Chenault Jr. and John Monagle, the firm is specifically focused on backing pre-seed and seed stage technology companies operating in sectors such as enterprise, consumer, fintech, and healthcare. The duo, who were former classmates at Harvard Business School and subsequently colleagues at General Catalyst, aim to address the exclusion of many founders from traditional networks by supporting transformative technology companies irrespective of the founders’ backgrounds.

Benchstrength currently has 20 portfolio companies, including Altis Labs, Alta, Cashmere, and Systole Health, which are innovating in AI-powered software for pharmaceutical trials, AI-based personal styling and shopping, AI-powered wealth management software, and women’s healthcare technology, respectively. 

Furthermore, the firm has secured backing from both institutional and individual investors, such as Henry Kravis, Ursula Burns, Mellody Hobson, Peggy Koenig, Clara Wu Tsai, Tim Barakett, Les Brun, Ron Conway, David Grain, among others. Benchstrength’s mission is centered around investing in high-potential, early-stage technology companies that have the potential to transform businesses and communities. To learn more about Benchstrength, visit benchstrengthvc.com and connect on LinkedIn.

Source: Business Wire