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645 Ventures Announces New $160M Fund and 'Connected Network' to Support Founders' Growth

Today, 645 Ventures announced 645 Ventures Fund III, a $160 million fund “to invest in exceptional Seed and Series A companies.” The firm revealed they normally invest $1 million and $2.5 million per seed round and $5 million per Series A. The company also stated that it’s backed by leading institutional investors, “including university endowments, foundations, funds of funds, and pension funds.” “Fund III allows us to continue partnering with early-stage visionary founders who aspire to build iconic businesses that transform industries and reach large scale M&A and IPO events,” the announcement reads. In addition to the new fund, 645 Ventures is also launching “ Connected Network ,” a team of individual investors, including top technology leaders, business founders, and financiers who’ve scaled their early-stage startups to growth-stage businesses. “We have built and scaled a unique Connected Network of LPs and formed an ambitious internal team of engineers, operators, and...

Oct 28, 2020

Black-Led VC Firm 645 Ventures Details Long-Term Plan to Combat Systemic Racism

In response to protests for racial justice, venture firms are racing to support the Black community. 645 Ventures , a leading early-stage venture capital firm, released a detailed statement outlining their long-term plan to combat systemic racism. “After taking time to reflect on our own personal experiences with racial injustice…we developed and initiated a plan for how our organization will respond,” wrote co-founders Aaron Holiday and Nnamdi Okike, and CFO Abe Spence. “We have listened to and spoken with leaders in the black community, our LPs, and our advisors and mentors, all of whom have provided valuable input and perspective.” Subsequently, the Black-led and diverse VC firm — whose portfolio includes Squire , AptDeco, and expense management software Abacus, among others — will meet their new commitment through three key initiatives. First, 645 Ventures pledges to support organizations directly and on an ongoing basis, starting with the Center for Policing Equity (CPE) . They...

Jun 19, 2020