Growth Warrior Capital has raised new funding to support enterprise companies being fueled by artificial intelligence (AI).
The operator-led venture firm, which invests in early-stage Enterprise AI companies, was created by Promise Phelon, a former Silicon Valley tech CEO with more than 15 years of experience as an angel investor. According to a news release shared with AFROTECH™, her career trajectory has led to an expansive network, some of whom have now invested in Growth Warrior Capital’s first fund, which totals $26 million. Limited partners include Ho Nam and Han Kim (Altos VC) and well as Seth Levine and Brad Feld (Foundry). Amazon Catalytic Capital, Bank of America, Bessemer Venture Partners, Pivotal Ventures, and more are also listed as limited partners.
“My goal is to be the first VC fund of significant scale run by a woman of color,” Phelon, founder and managing partner, said in a news release. “We have the backing of VC industry legends, and their support is proof of GWC’s mission to change the traditional model. We find dangerous founders and bridge gaps to give them opportunities, introductions, and support they otherwise wouldn’t have. As a former founder and operator, I see both the founder perspective and the investor perspective, so we’re able to go beyond capital in the value we create.”
Seth Levine, a 25-year VC veteran and founding partner of Foundry, commented:
“Among the ways that Promise differentiates herself is through her deep and long background as an executive and operator. She brings that operational mentality to builder GWC itself, and she positions the firm to scale beyond her original vision. This mindset changes how you think about hiring, employee development, where you want to spend your resources, etc. Promise has been thoughtful about the types of people she brings into GWC and how they will positively impact the firm. It’s common to talk about building leverage and scale into organizations, but most don’t really operate with that mindset. Promise is bucking that trend.”
Fund’s Focus
Growth Warrior Capital’s first fund will focus on AI-driven enterprise productivity. Already, it has been put to good use, with over half the funds deployed. Investments include Barometer, an AI-powered engine for measuring brand suitability in audio advertising, and ForceMetrics, which provides decision-assisting tools and technology to law enforcement.
“Promise didn’t just provide funding; she gave me the tools and confidence to embrace the challenges of being a CEO,” mentioned Dr. Tamara Zubatiy, founder and CEO of Barometer. “From reshaping our narrative to guiding us through critical business transformations — like pivoting from SaaS to a CPM model — Promise was there every step of the way, even during our toughest challenges. Her belief in our vision and unwavering support helped us transform a struggling business into one that’s now thriving, achieving 300% growth quarter over quarter.”
Looking ahead, Growth Warrior Capital’s next fund will hone in on AI solutions that target industrial jobs where human labor is expensive.