Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

Consumer tech investing is still hot for Maven Ventures, securing $60M for Fund IV | TechCrunch

Apr 16, 2024 - techcrunch.com
Venture capital firms Andreessen Horowitz and Lerer Hippeau's decision to pivot away from consumer tech in 2024 sparked a debate about the viability of the sector. However, Maven Ventures' Jim Scheinman and Sara Deshpande have raised $60 million for a fourth fund to back "massive consumer tech trends," citing their previous success with companies like Zoom and Cruise. Scheinman believes that the current downturn in consumer tech is the best time to invest, as it is "less noisy" and there is less competition.

Maven Ventures plans to focus on consumer AI and personalized medicine, among other consumer tech trends. The firm has already invested in seven new companies from the new fund, including Medeloop, Lutra AI, and Multion. Deshpande emphasized that consumer trends will never disappear and that the firm is looking for founders with unique insights into how technology can improve consumers' lives.

Key takeaways:

  • Maven Ventures’ Jim Scheinman and Sara Deshpande have raised $60 million for a fourth fund to back “massive consumer tech trends,” despite Andreessen Horowitz and Lerer Hippeau pivoting away from consumer tech.
  • Scheinman believes this is the best time to invest in consumer tech as it is currently in the trough of the cycle, meaning there is less competition and noise.
  • Maven Ventures plans to focus on consumer AI, personalized healthcare, climate and sustainability, family technology and fintech, and has already invested in seven new companies from the new fund.
  • 16% of Maven’s portfolio companies have reached a minimum $500 million exit or valuation, which is 10x industry average, and Fund IV brings total assets under management to $200 million and more than 50 total investments.
View Full Article

Comments (0)

Be the first to comment!