Sovereign’s Capital Closes its Largest-Ever Venture Capital Fund
10 Julio 2024 - 7:32AM
Business Wire
Sovereign’s Capital, a diversified alternative asset manager
dedicated to excellence in faith-driven investing, has closed its
largest venture capital fund to date, Venture Capital Fund IV, LP,
with over $60 million in committed capital. The fund’s investors
include both existing limited partners and new institutional
investors, making it the firm’s largest pool of capital dedicated
to early-stage technology startups. As of June 2024, Sovereign’s
Capital managed more than $780 million in assets across five asset
classes: venture capital, private equity, public equities, fund of
funds, and real estate.
Sovereign’s Venture Capital Fund IV invests in Seed and Series A
stage technology companies led by faith-driven entrepreneurs across
the U.S. and Southeast Asia. Such founders seek to deliver strong
financial returns while simultaneously “loving their neighbor”
through their products and internal company cultures. The firm
believes that scaled technology companies are uniquely positioned
to provide excellent financial returns and contribute to human
flourishing.
The venture team’s six investment professionals have deep
venture capital and operating expertise, and are supported by a
global team of more than thirty professionals at the firm. The
venture team invests up to $4 million per investment into sectors
where they have operational experience: B2B and B2C software,
fintech, healthtech, deep tech, and tech-enabled services. The team
thoughtfully engages with portfolio companies to provide strategic
and operational partnership.
“We are grateful to announce the successful final close of
Venture Fund IV, especially in the midst of one of the toughest
venture fundraising environments in decades. The fund’s early
portfolio of nine companies is built on the incredible work and
leadership of our mission-driven founders, which was made possible
only through the partnership of our nearly one hundred limited
partners,” said Jake Thomsen, Managing Partner of Venture Capital
at Sovereign’s Capital. “Our team could not be more excited for the
years ahead.”
The Fund has made nine investments out of an anticipated
portfolio of approximately thirty-five companies, including:
- Fakespot (acquired by Mozilla) – artificial intelligence
systems that detect fraudulent patterns in online reviews to bring
trust and transparency to ecommerce.
- Fringe – personalized employee benefits and wellbeing platform,
tailored to individuals’ life stages and lifestyles.
- Preveta – AI care navigation platform that empowers oncology
and specialty clinics to uncover patients who are falling through
the tracks and take action.
- Komunal – banking platform that accelerates financial inclusion
through digitizing rural banks, combining funding access and
hyperlocal lending.
- Relay – cloud-based communications platform designed to improve
productivity and safety for frontline teams.
- Kinship – online communities for open, judgment-free
conversations about life’s biggest questions.
- Passage Health – software solutions that improve the quality
and accessibility of care available to autistic individuals.
- BrightPlan – digital financial wellness solution that makes it
easy for business leaders to enhance the employee experience,
improve productivity, and drive impact.
- Bricklayer AI – autonomous cybersecurity platform where teams
of artificial intelligence specialists collaborate with their human
peers to create more efficient security operations.
About Sovereign’s Capital
Sovereign’s Capital provides capital and strategic partnership
to companies and funds led by faith-driven founders that the firm
believes have the potential for outsized returns and impact.
Sovereign’s Capital was founded in 2012 and offers investment funds
across the following asset classes: venture capital, private
equity, public equity, real estate, and fund of funds. The firm
operates in the U.S. and Southeast Asia.
For more information visit sovereignscapital.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240710348091/en/
Jake Thomsen jthomsen@sovereignscapital.com