Inspired Capital Fund III closed with $330 million in capital commitments to celebrate its fifth birthday. This takes the firm’s assets under control to approximately $900 million.
Entrepreneurs Alexa von Tobel and Penny Pritzker formed the New York early-stage venture business in 2019. They raised $200 million for their debut fund and $281 million for their 2021 second round. General partners Lucy Deland and Mark Batsiyan co-founded.
Major endowments, pensions, and foundations support Fund III.
“For me, it’s sort of a real ‘pinch me moment,’ because I decided to devote the next many decades of my career to finding entrepreneurs who want to completely change what’s possible,” von Tobel told Eltrys. “When properly deployed, venture capital is the world’s most powerful economic engine. As real stewards of venture, it is one of the most potent methods to impact the world.”
Von Tobel, managing partner, said Inspired Capital invests pre-seed in Series A in “fearless founders who are solving the hardest challenges facing humanity.” Company checks range from $1 million to $15 million.
Its portfolio of over 50 firms has raised $1.5 billion in follow-on finance. Habi, a $1 billion property tech firm; Teamshares, an employee ownership organization; Rho, a commercial banking company; and Paytient, a healthcare payment system, are notable investments.
The third fund, like past ones, von Tobel aims to invest in 25–30 firms, or 10 each year.
Inspired Capital will continue to invest in a variety of firms constructing “An Inspired Future,” its concept of “innovations that move the world dramatically forward.” Digitizing the industrial sector, retooling the contemporary workforce, monetizing the internet, harnessing AI’s potential, and ensuring financial stability in a turbulent society are examples.
Inspired Capital produced a manifesto for its new fund that outlines its philosophy, beliefs, and goals. Von Tobel said the business wants to establish large firms that take big risks and solve big issues.
“There will always be huge, meaty problems that must be solved for humanity,” she remarked. “We seek fearless founders who reject the status quo and believe the world deserves better. Entrepreneurs that want to make a difference know we are ready to collaborate and support them. Going back to the basics of enterprise is like that.
