Inspired Capital Closes $330M Fund III, Reaching Nearly $900M AUM on 5th Anniversary

Inspired Capital, the New York-based early-stage venture firm, has marked its fifth anniversary by closing its third fund, Inspired Capital Fund III, with $330 million in capital commitments. This brings the firm's total assets under management to nearly $900 million.

Founded in 2019 by entrepreneurs Alexa von Tobel and Penny Pritzker, the firm had previously raised $200 million for its debut fund and $281 million for its second fund in 2021. Co-founders include Lucy Deland, a partner, and Mark Batsiyan, the COO. Fund III has garnered support from institutional investors, including leading endowments, pensions, and foundations. I

Investments will range from pre-seed to Series A with checks ranging from $1 million to $15 million, with the intention to invest in 25-30 companies, approximately 10 investments per year. The third fund's manifesto emphasizes the firm's vision and investment preferences:

We live by these five principles:

1. We believe that the only way for companies to generate outsized long-term economic value is to embrace big risks. Economic value truly arises when big risks are solved, and companies create innovative products and business models, often those that couldn’t have existed previously.

 

2. We believe in backing the audacious who work tirelessly to solve the hardest problems that few others are willing to even attempt to fix.

 

3. We seek to partner with the founders who reject the status quo and are working toward a future that looks fundamentally different from the present.

 

4. We embrace those founders that see structurally broken markets and develop new products and solutions to fix those markets.

 

5. We think that the very best founders are attracted to the hardest problems because they can drive the greatest rewards both for their companies and the world.