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In a crowded VC landscape, Elizabeth Weil's Scribble Ventures shows that networks still matter | TechCrunch

May 21, 2025 - techcrunch.com
Elizabeth Weil’s Scribble Ventures has successfully raised $80 million for its third fund, surpassing its $75 million hard cap. This achievement highlights the firm’s strong market confidence, especially during a challenging period for the venture industry. Weil, a Stanford graduate with experience at Andreessen Horowitz, Twitter, IVP, and Menlo Ventures, attributes Scribble’s success to its robust network, known as the “Scribble Network.” This network includes influential figures like Maggie Hott from OpenAI, Jim Everingham from Meta, and Sheila Vashee from Figma, who provide deal flow, due diligence, and co-investment opportunities. Scribble’s strategy focuses on collaboration rather than rigid ownership targets, allowing it to make successful early investments in companies like Whatnot, Atmo, and Poolside.ai.

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.
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