Scribble Ventures, with $216 million in assets under management, typically invests $750,000 to $1.5 million per company. The firm’s first fund, raised in 2020, has shown strong performance with a 4x multiple, partly due to early distributions from crypto investments. With the current focus on AI, Weil sees significant opportunities for startups despite the challenges of finding product-market fit in a noisy market. Scribble’s collaborative approach is well-suited to navigate these challenges, offering startups access to its extensive network to aid in their growth and development.
Key takeaways:
- Elizabeth Weil’s Scribble Ventures secured $80 million for its third fund, surpassing its $75 million hard cap, highlighting market confidence in Weil's deep network and experience.
- The Scribble Network, a cultivated ecosystem of operators and executives, provides deal flow, due diligence, and investment support, setting Scribble apart in the venture capital landscape.
- Scribble Ventures has made successful early investments in companies like Whatnot, Atmo, and Poolside.ai, and manages $216 million in assets, with a focus on collaborative investment strategies.
- The firm’s first fund, raised in 2020, shows strong performance with a 4x multiple, benefiting from early distributions from crypto positions, and sees AI as a significant opportunity despite market challenges.