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Syndicate One is a debut investment firm out of Belgium that has raised a €6.5 million fund to back Belgian founders and startups. While the amount is small, the significance is that it is the first Belgian fund to have the support of all four of the federal regions of the country. This, in a […]
The next generation of New York City investors are already making their mark in the Big Apple. They come from big-name venture firms like Female Founders Fund and Lerer Hippeau and smaller ones like Chai Ventures. They work in areas like growth, consumer, and health. They canoe, hike, and play pickleball on the weekends. We […]
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Fly Ventures, the Berlin-based VC that invests in seed-stage European startups within enterprise and deep tech, has launched its third fund at €80 million. The firm raised its last €53 million fund in 2020. Aiming at technical founders, the firm claims Fund III was oversubscribed and raised in a single closing. Meanwhile, the small increase […]
We asked our readers and top VCs to name the best up-and-coming investors of 2024.
These VCs come from big and small firms and invest in startups across all sectors and stages.
These 45 venture capitalists are the names to keep on your radar in 2025 and beyond.
Over the last two years, artificial intelligence has exploded into public consciousness, leading to a boom in new startup creation and an antidote to an otherwise sleepy VC investing landscape.
The trend is creating more opportunities than ever for early-career investors to shine when it comes to helping source big deals — or even being the one to write the check.
Every year, Business Insider asks top investors to name the most promising young VCs in their networks. BI also asked the general public, as well as previous rising stars, who they thought should make the cut.
The investors selected to be our 2024 rising stars of venture capital come from a wide array of backgrounds and range from associates to founding partners at their funds, and we also threw in a few picks of our own based on the investor performance throughout this year.
Unsurprisingly, many young VCs are making a name for themselves by betting on hot AI startups. But BI's list also includes investors specializing in healthcare, defense tech, climate tech, and other industries.
Scroll to see 2024's rising stars of venture capital, organized alphabetically by the investor's name.
Daniel Aronovitz, Insight Partners
Over nearly a decade at Insight, Aronovitz has risen from analyst to principal, helping lead investments in Own Company, which Salesforce acquired, and Run:ai, which Nvidia bought. He looks for high-growth B2B SaaS companies in cybersecurity, infrastructure software, and vertical AI. Investments typically span Series A to Series D, with check sizes ranging from $5 million to $500 million.
In 2019, Aronovitz helped open the firm's office in Tel Aviv, Israel, where he lives with his family.
"I draw on years of software investing and pattern recognition to help founders navigate the challenges of scaling internationally," he said.
Casey Aylward, Accel
Aylward joined Accel in 2022. Since then, she has established herself as a go-to early-stage, open-source investor, continuing a firm tradition of early investments in companies like Cloudera, Sentry, and Vercel. She led Accel's seed investments in competitive deals, including VoidZero, founded and led by Evan You, the creator of widely adopted projects in the JavaScript ecosystem, and Astral, a startup building developer tools for the Python ecosystem.
This fall, she also helped organize the first CUDA Mode Hackathon alongside Nvidia and PyTorch, an open-source deep learning framework, attended by hundreds of developers.
Before Accel, Aylward worked at Costanoa Ventures, an early-stage enterprise fund, and was a software engineer at Pinterest, joining through the acquisition of the Accel-backed company URX.
Julien Barber, Emerson Collective
Climate tech investor Barber advises founders to "go deep" on a topic. He's done that himself as a venture investor at Emerson Collective, where he focuses on backing companies that use technology to break down barriers to a clean economy.
Specifically, he focuses on the hardware solutions needed to decarbonize the economy, such as nuclear fusion, energy storage, and other physical solutions in the energy, industrial, and transportation sectors. This year, Barber helped the firm invest in several clean energy startups, including Antora Energy, Xcimer Energy, and Zap Energy.
Before joining Emerson Collective, Barber completed his graduate program in Mechanical Engineering at MIT's Plasma Science and Fusion Center (PSFC) where he specialized in studying nuclear fusion technology. He also co-founded Commons, a carbon-tech start-up, and advises companies on corporate climate strategy.
Maggie Basta, Scale Venture Partners
Basta was promoted to Vice President at Scale Venture Partners, where she focuses on AI infrastructure and developer tools. This past year, she sourced Scale's investments in Galileo, Cortex, Lumos, and QA Wolf. Scale led a $45 million Series B round in generative AI security and monitoring startup Galileo.
Basta is part of a growing number of technically trained VCs with deep expertise in AI and machine learning. Before Scale, Maggie worked as an ML engineer at QuantCo, building AI technology for algorithmic pricing and fraud detection. Her prior academic research focused on Deep Learning.
Basta, formerly a Harvard collegiate soccer player, has authored several key pieces on building and investing in AI infrastructure.
Lori Berenberg, Bloomberg Beta
Berenberg has made herself a staple of the New York City tech scene by organizing regular community events, including parties at NY Tech Week and her series of tech breakfasts.
"Venture is one of those rare careers you can start before getting the job," she said. "Build your network, explore your city's startup scene, meet founders, and practice evaluating live deals."
A former product manager, Berenberg joined Bloomberg Beta in 2022 and focuses on pre-seed and seed-stage investments in the future of workspace. Her portfolio includes the lawyer time-tracking platform Ajax and the community-hiring platform Twill. Berenberg earned her undergraduate degree from New York University's Stern School of Business.
Morgan Blumberg, M13
Blumberg joined the venture capital world in 2021, and she's since made a big impact on M13's portfolio. As a principal at the early-stage tech-focused firm, she helps lead M13's AI strategy and has sourced or led five of its most competitive AI investments in the past year, including its investments in Norm AI's $11 million seed round, led by Coatue, and RadiantGraph's $11 million Series A, led by M13.
She currently supports 11 of the firm's portfolio companies and sits on the boards of the freelance fintech startup WorkMade and the AI sales platform Lantern.
Blumberg previously worked in investment banking at Morgan Stanley. After leaving banking, she worked on Mike Bloomberg's 2020 presidential campaign and consulted for political media startups before joining M13. Her recent investments have focused on AI applications for the future of work and healthcare.
Molly Bonakdarpour, Drive Capital
Bonakdarpour shapes healthcare strategy as a partner at the Columbus, Ohio-based Drive Capital. This year, she's invested in early-stage startups bringing AI to healthcare, including Droxi AI and Clarence Health. She also sits on the board of the insurtech startup Sidecar Health, which raised a $165 million Series D round in June.
She's supported portfolio companies to successful exits even as M&A has lagged, including the Japanese food producer Ajinomoto's acquisition of Forge Biologics, a biotech startup she helped incubate, for $620 million at the end of 2023.
Before becoming an investor, Bonakdarpour led commercial partnerships at the diabetes company Livongo and held analyst roles at 7wire Ventures and JPMorgan.
Vig Chandramouli, Oak HC/FT
Chandramouli first saw the limitations of a healthcare system growing up in South India, where his grandfather still runs a small clinic for patients who can't afford to go to the hospital or seek specialty care. Now, at Oak, he backs founders building for underserved patients who can't advocate themselves.
Chandramouli joined Oak in 2014 as one of the firm's earliest employees. He's since worked on 35 of Oak's 58 healthcare investments to date, from new company incubations to growth-stage deals. He has largely focused on investments in value-based care enablement, with a recent eye for startups using AI in healthcare.
Chandramouli helped incubate the generative AI startup Trovo Health, which emerged from stealth in April with $15 million in seed funding led by Oak. He also sits on the boards of startups including Trovo Health, the virtual-reality surgery company Osso VR, and the healthcare training platform Stepful.
Sherry Chao, GV
Chao brings a scientific background to her role investing in life-sciences startups at GV. After finishing her MBA at Harvard Business School, Chao completed her doctorate in bioinformatics at Harvard, during which she worked in a cancer immunology lab at the Broad Insitute of MIT and Harvard. Collaborating with leading scientists there sharpened her eye for evaluating the science and market viability of GV's biotech investments.
Chao joined GV as a principal in 2021, and the firm promoted her to partner in January. She's worked on deals like GV's bets on the obesity biotech Metsera, the immunology startup Santa Ana Bio, and several companies still in stealth. Before securing her graduate degrees, Chao spent three years at Goldman Sachs as a private-equity analyst.
Jon Chu, Khosla Ventures
Chu is one of the investors leading Khosla's charge into AI. His focus on machine learning and its impact on enterprise infrastructure, applications, and developer tools has led the firm to make investments in high-potential startups such as Sakana, a research lab building a foundation model based on nature-inspired intelligence, and Loft Labs, a startup that virtualizes Kubernetes clusters that raised $24 million in funding in April.
Chu began his career as an engineer at Palantir and founded and sold a software-testing company, Koality, to Docker, where he ran Docker's enterprise group. More recently, he spent time at Opendoor, leading engineering for core machine learning, and at Facebook, overseeing engineering teams in both virtual reality and machine learning.
Zeeza Cole
Cole recently wrapped up her time at Bain Capital Ventures, where she wrote checks for the clothing resale infrastructure startup Archive, the inventory-management platform Cofactr, and Arc, which is a digital bank for SaaS startups. Based in New York, she's focused on application software with a focus on industrials and vertical Saas.
Prior to her time at BCV, Cole was an associate at WeWork's creative fund and completed a stint in investment banking at Goldman Sachs. When it comes to founders, she says that the most important quality she looks for is earned insight.
"Whether that is domain expertise from years of working in the industry or simply becoming self-taught in a space where the founder is passionate, having a strong industry perspective is critical for building a future-facing company," she said.
Deedy Das, Menlo Ventures
Although having only been at Menlo Ventures for less than a year, Das has already made his mark at the firm for his AI investing prowess. Das, who was previously on the founding team of hot AI search startup Glean, has helped launch the $100 million Anthology Fund in partnership with Anthropic (Menlo invested in the AI giant's $450 million series C round in 2023).
Deedy is one of only three team members (others include partners Matt Murray and Tim Tully) responsible for making investments out of the fund. Having held technical roles at Facebook and Google Previously, Das is also involved with the firm's investment in Pinecone and serves as an advisor to a number of AI startups including Perplexity.
Das is also a prolific contributor to AI and immigration thought leadership and has amassed over 100,000 followers on social media platform X.
On what he looks for in a founder: "Consistency. Focus is one of the most fleeting qualities in today's day and age. We're all distracted by the shiny new thing. Whether it comes from obsession, discipline or simply drive, being consistent is essential. A successful startup takes 7-10 years — that's a longer duration than most people have done anything."
James Detweiler, Felicis
Detweiler found his way into venture by accident, rejecting roles in physics research and Wall Street trading and working at Silicon Valley Bank. In 2021, Detweiler bet big on AI investing, joining AI-focused fund Zetta Venture Partners. A year later, he joined Felicis with the intention of scaling out the firm's AI portfolio. Over the past few years, Detweiler has helped deploy around $100 million into 8 AI startups.
Detweiler, a physics major and Minecraft lover, has made several early bets on AI and machine learning startups, backing Shield AI. and Flower Labs. He also led Felicis' investment in Skild AI, a company building a foundation model for robotics. Shield AI was last valued at $2.7 billion, and Skild AI was last valued at $1.5 billion.
On what he looks for in a founder: "humility, grit/resilience, clear/secret narrative, talent magnet, fast learner/updates priors, high energy/rate of execution, extraordinary background/track record, and bonus points for expanding the scope of my imagination."
Dion Dong, Leadout Capital
Dong joined Leadout as a principal in 2022. Since joining the firm, which focuses on early-stage startups and helping companies find "founder-market fit," Dong has sourced seven investments, including Creatify, which makes video advertisements with AI, and the food-service sales platform First Bite.
Dong considers himself a generalist investor, though he says he's recently been focusing on the AI app layer. The University of California at Berkeley graduate has made over a dozen angel investments and completed stints at companies including Rippling and Laika. He said the latter experience had been crucial to his success on the VC side of things.
"Be more intentional about developing an investor mindset even before stepping into a full-time investor role, whether it's how you allocate your time, energy, resources, or relationships," he said. "Many skills will likely transfer when allocating capital if you excel at that."
Caroline Fiegel, Salesforce Ventures
At Salesforce Ventures, Fiegel manages investments for the firm's Slack Fund, which targets early-stage companies creating software and infrastructure meant to power the future of work. Since joining in 2022, Fiegel has helped define the fund's early-stage strategy and sourced and led investments such as Ensemble, a company dedicated to lowering barriers to state-of-the-art machine learning, and Tribble, which automates the "request for proposal" process.
Before she became an investor, Fiegel spent over three years leading product and go-to-market strategy at Quip, a horizontal productivity suite that Salesforce acquired in 2016.
Outside work, she hosts a recurring dinner series for female founders and operators — an effort she hopes to grow and formalize in the new year.
Samuel Garcia, Amplo
The Austin-based Garcia has been with Amplo for six years, starting out as an associate in 2018 and rising through the ranks before being promoted to partner in 2023. The fund focuses on seed and Series A investing, and Garcia considers himself a generalist investor, though he says he tends to gravitate toward the B2B SaaS, telecom, and legaltech sectors.
His investments include the legal-tech startup Steno, the AI-powered product-management software Axion Ray, and the digital network procurement startup Lightyear.
For Garcia, who graduated from the University of Texas at Austin as well as Harvard Law School, it's important to him that startup founders are experts in their chosen fields.
"I like to ask myself, 'If there was a graduate-level class on what this company does, could this CEO be a professor on it?'" he said.
C.C. Gong, Menlo Ventures
Gong has an unusually long résumé, especially for someone so young — product roles at Meta and Microsoft, an investor at Bain Capital Ventures, founder of her own video startup, and White House Presidential Innovation Fellow. She added another title to her résumé this year, joining Menlo as a principal. There, she focuses on pre-seed to Series C startups trying to revolutionize how people live, work, and play.
Gong prides herself on her hustle.
"I love breaking down doors for founders," she said. "Having been a founder myself I know how hard it is, and now as a VC my job is to make their job easier."
Jaya Gupta, Foundation Capital
Since joining Foundation in May 2023, Gupta has already made five seed-stage investments in the AI space, including the sales engineering company DocketAI. Based in San Francisco, Gupta previously completed a stint at the investment-banking firm RBC after graduating from Georgia Institute of Technology.
When it comes to finding success in the world of VC, Gupta said that it's important to find and trust your gut instinct.
"In this business, value for investors means sending relevant deals to the right people, and especially in early-stage investing it's more art than science," she said. "So, it's important to demonstrate you have the capability to identify potential breakthrough people and companies."
Fawzi Itani, Forerunner Ventures
Itani began his career at LinkedIn before starting a gaming research and advisory firm. In 2021, he joined Forerunner, which leads seed, Series A, and Series B rounds for consumer startups. Companies Itani works with include Fay Nutrition, which provides insurance-covered dietitians, and Feed, a retailer of healthcare supplements.
"I'd say my superpower has been identifying and engaging in markets that are on the precipice of change," Itani said. "I'm someone who can support our portfolio in any task no matter how big or small, unblocking them, brainstorming alongside them, and getting them in front of people they need to meet."
Tanay Jaipuria, Wing Venture Capital
As a partner at Wing, Jaipuria leads seed and Series A funding rounds in AI-powered applications and infrastructure. Since joining the firm in April 2022, Jaipuria has written checks for the AI social-media ad platform Sesame Labs and the time-tracking legaltech Billables.
Jaipuria, who is based in New York, says aspiring investors should fake it before they make it.
"Be in the flow — help founders with advice, connect them to investors, develop perspectives on sectors and share them online," he said. "You can practice most parts of the job without actually being in the job yet."
Prior to joining Wing, Jaipuria held roles across Big Tech, including product lead at Instagram, product manager at Facebook, and forward-deployed engineer at Palantir. He also spent time as a consultant at McKinsey. Jaipuria earned his undergraduate degree from Columbia University and also graduated from Harvard Business School.
Bryce Johnson, Primary Venture Partners
Johnson, based in New York, has been investing at Primary since 2023, and his focus areas include healthcare, fintech, and vertical SaaS. He's made bets on the AI construction startup Bobyard and the fund-management platform Maybern, in addition to a stealth healthtech company.
For Johnson, who graduated from Stanford University with a bachelor's degree in computer science focusing on AI, an important part of VC investing is identifying your strengths and building them into networking.
"VC is all about sharing your grand vision and then executing against the plan," he said. "A question I constantly ask myself as an investor is, 'Why would an incredible founder want to take a call with me when they have other investors knocking at their door?' If you can clearly answer that, doors will open."
Brannon Jones, AlleyCorp
After working as an engineer at SpaceX, Jones joined AlleyCorp in 2023 to invest in robotics, aerospace, advanced manufacturing, and energy transition technologies at the pre-seed through Series A levels.
"I've found that one of the most important values I'm able to bring to founders is a thorough understanding of deep tech, specifically its scalability throughout industries," Jones said. "The transition stage from concept to commercialization is notoriously challenging, and so that is where there can often be the most need from a founder's perspective."
Cynthia Kuo, IVP
After starting her career as a banker at Goldman Sachs and working in finance at Hopin, Kuo joined IVP in 2022. She has worked with two of the hottest startups of 2024, Perplexity and Glean. At IVP, Kuo focuses on AI applications, vertical software, and consumer platforms with check sizes ranging from $10 million to $50 million.
"My time at a startup — joining what was a lean finance team during a pivotal moment in the company's growth trajectory — gave me valuable insight into sustaining hypergrowth and, more importantly, tremendous empathy for founders and their teams," Kuo said. "That experience, combined with my background in finance, honed at Goldman Sachs, enriched my understanding of scaling."
Ashwin Lalendran, Moxxie Ventures
Lalendran, Moxxie's newest recruit, has designed and deployed computer vision and robotics systems across land, air, and sea. He worked on drones for the Air Force, shipped 3D vision software for Apple's mapping and self-driving-car projects, and led a team of engineers to scale the world's largest private-owned network of ocean sensors at Sofar Ocean.
In his latest role, Lalendran lends founders his operating expertise — having gone from napkin sketches to scaled deployment many times over — and his technical and commercial network. He specializes in regulated industries, whether manufacturing and mining or maritime and medicine.
Before Moxxie, Lalendran cut angel checks into Milu Health, a healthcare startup that raised a seed round of funding from Andreessen Horowitz, and Driver, a startup seeking to take the slog out of technical writing and recently announced $8 million in funding in a round led by GV.
Yuri Lee, IVP
IVP promoted Lee to partner in July, two years after she joined the firm from Morgan Stanley, where she worked on investment-banking deals like Affirm's and SentinelOne's 2021 IPOs. She's sourced and supported some of IVP's hottest deals this year, like its February investment in the AI-powered medical scribing startup Abridge's $150 million Series C. (The Information reported in October that Abridge was raising a fresh $250 million round at a $2.5 billion pre-money valuation, with IVP set to co-lead the deal alongside the tech investor Elad Gil.)
Lee makes investments across tech and healthcare. She serves on the board of the healthcare staffing startup Clipboard Health and helped IVP secure its investment in the hybrid care provider Accompany Health, which launched in January with a $56 million Series A. She also supports some of IVP's highest-value tech bets, including Discord; she cohosted Discord's B2B product launch event at the Game Developers Conference in March.
Beyond VC, Lee is an avid player and creator of video games — she developed the online multiplayer game "Arena of Kings," released in 2021. She was ranked in the top 1% of "League of Legends" players in the US for multiple years. She's lived in five countries, including South Korea, where she was born, Hungary, where she grew up, and now the United States.
Alex Lehman, Sapphire Ventures
Lehman rejoined Sapphire in 2022 after getting an MBA from the Stanford Graduate School of Business. She focuses on generative-AI startups at all layers, from infrastructure to application to large language models.
"As a member of the LGBTQIA+ community, I believe I'm transforming the industry while performing at the highest levels in an ecosystem across which people like me are not widely represented," Lehman said. "The founders I work with know that they are getting my honest take no matter what the context and that I am driven, hungry, and dedicated to working tirelessly towards their success."
Lindsey Li, Bessemer Venture Partners
Lindsey Li, who joined Bessemer Venture Partners in 2019 as an analyst, has sourced more than seven investments for the firm, including AI and software startups Seam AI and Rundoo.
This year, Li, who makes early-stage bets on startups across gaming and consumer, developer platforms, and crypto, was promoted to Vice President at Bessemer in 2024. She also spearheaded a study focused on AI's effect on developer tasks and contributed to Bessemer's annual State of the Cloud report.
Internally at Bessemer, she created and led the firm's Steel DAO initiative, which developed a platform for deal sourcing for crypto and web3. The DAO evaluated over 300 companies and resulted in four early-stage startups funded by Bessemer.
On what Li looks for in a founder: "Clarity of thought and vision. I find this is often predictive of other very important qualities, including being able to see the present clearly (i.e., hard-headed about the facts) and communicate in granular detail the steps between now and the future they envision."
Radhika Malik, Dell Technologies Capital
Malik was promoted from principal to partner at Dell Technologies' VC arm. She invests in AI, machine learning, cloud infrastructure, and deep tech. Her current investments include RunPod, Secuvy, SiLC, TheLoops, and several companies still in stealth mode. Malik sourced the seed investment in AI startup RunPod from an engineering subreddit; the startup raised $20 million from Dell and Intel Capital earlier this year.
A deeply technical software engineer, Malik was previously an investor with Samsung Catalyst Fund, Samsung's deep technology venture fund. Prior to becoming an investor, she worked as a software engineer and product manager at Microsoft and Amazon.
Malik's advice for any aspiring VCs: "Learn the fine balance between being analytical and data-driven and 'suspending disbelief' at the right time when you believe you may have come across a potential outlier. There are a million reasons to say no to any investment. Finding that one reason to say 'yes' takes being able to believe in a big vision that may be supported by very little data."
Abby Meyers, Bain Capital Ventures
Meyers says that in VC, it's crucial to do your homework.
"Coming into conversations informed, with interesting insights that can further the thinking of investors that you're interacting with, can demonstrate the type of value you'd bring as a member of their team," she said. "And, everything you learn while breaking in will help you do the job when you get there."
Meyers, who is based in New York, has been at Bain Capital Ventures since September 2022 and was promoted to principal in January 2024. She focuses on the application-software vertical, and her bets include the industrial workplace platform MaintainX, the legal-tech startup EvenUp, and the sales-focused Apollo.
Jesse Middleton, Flybridge Capital Partners
When Flybridge decided to take a big swing on New York's tech ecosystem with a dedicated fund, it named Middleton as the dealmaker in charge. He helped launch and now leads Next Wave NYC, a pre-seed venture fund, wholly owned by Flybridge, that invests in local entrepreneurs using artificial intelligence to build next-gen products.
Middleton is a general partner at Flybridge, having cut his teeth as an angel investor. He built up his network as an early employee at WeWork, where he built and supported a community of thousands of founders in WeWork Labs, the coworking company's take on a startup incubator.
His notable investments include Chief, the professional network for women in executive roles; Jackpocket, a lottery app that DraftKings purchased this year for $750 million; and Arcee.ai, an early-stage developer of small language models that announced two separate funding rounds this year.
Andrew Montgomery, Collaborative Fund
Montgomery has boomeranged back to the world of VC: He previously spent eight years at the seed investment firm Mesa Ventures but left in 2020 to be vice president of finance and strategy at the early-childhood edtech startup Lovevery. While at the company, Lovevery closed a $100 million Series C funding round led by TCG, valuing the startup at $800 million.
Montgomery, who's based in Boise, Idaho, and spends time in New York, went back to venture capital in 2023, joining Collaborative Fund as a partner to focus on next-generation consumer startups. He's backed the teen-focused marketing and data startup Cafeteria.
"Showing initiative and the ability to spot potential will set you apart," he said of people looking to get into venture capital. "This could mean helping startups or writing publicly about your ideas. Build a track record of insights that demonstrate how you think about opportunities."
Chris Morales, Point72 Ventures
Morales leads Point72 Ventures' defense tech practice, a field he's been passionate about since starting his career as a naval flight officer, wherein he was responsible for operating the weapon systems of fighter aircraft. He served in the Navy for eight years before transitioning into investment banking at Goldman Sachs.
Morales joined Point72 Ventures in 2020 as a vice president and was promoted to partner in April. He opened the firm's first office in Washington, DC, in May to build up Point72's military tech presence. He's led and worked on some hot defense tech deals, including the autonomous-pilot startup Shield AI's $90 million Series C in 2021 — the startup clinched more funding last year at a $2.7 billion valuation — and a 2020 investment into Stoke Space, a reusable-rocket company backed by Bill Gates' Breakthrough Energy Ventures.
Morales led the autonomous-driving-tech startup Overland AI's $10 million seed round in May. He's backed several other defense tech startups that are still in stealth this year.
Mason Murray, New Enterprise Associates
Mason Murray joined NEA as a Senior Associate in 2022 and helped form its AI investment thesis. He's been involved in several recent AI bets, including Glacier, Limitless AI, and Twelve Labs. Earlier this year, Twelve Labs raised $50 million in funding from NEA and Nvidia.
Prior to NEA, Murray worked in investing banking at Bank of America.
As for his advice for any aspiring VCs: "VC is multidisciplinary and there's no single path in. My advice would be to assess your operational strengths, areas of expertise, and unique networks. Your recruiting, sourcing, and network-building strategies will be most effective when tailored to where you can deliver near-term value. When you find your sweet spot, lean into it."
Sruthi Ramaswami, Iconiq Growth
Iconiq Growth had only a handful of healthcare investments when Ramaswami joined the firm in 2018. Over the past seven years, she's helped Iconiq establish a presence in the industry with 15 healthcare bets, sourcing and leading deals such as the firm's investments into Benchling, Devoted Health, and Unite Us.
This year, she sourced and closed Iconiq's investment into the medical device startup AcuityMD's $45 million Series B round, and she now sits on the startup's board of directors. Her 15 startup investments are worth $1.5 billion today.
Beyond the firm, Ramaswami works to improve diversity in venture capital as a cofounder of Neythri.org, a community of South Asian professional women, and a founding limited partner of the Neythri Futures Fund, a fund made up primarily of South Asian investors that's focused on backing startups with underrepresented founders, especially South Asian women. Two of that fund's portfolio companies, Cacheflow and Rupa Health, were acquired this year.
Naren Ramaswamy, Alumni Ventures
Naren Ramaswamy has been promoted four times over the past two years at Alumni Ventures, moving from associate to now the youngest junior partner at the firm. Ramaswamy helped craft Alumni Ventures' AI thesis and created a data-driven sourcing engine for the form. He sourced and led more than deals across AI, SaaS, and deep tech, including Daydream, Vectara, and Vanilla.
Before his work in Silicon Valley, he was a touring soloist/composer on the Indian bamboo flute under musician Ravi Shankar's school of music. Ramaswamy holds three degrees from Stanford, including bachelor's and master's degrees in engineering and an MBA from Stanford's Graduate School of Business. He also teaches a course at the university on venture capital.
Jordan Segall, Redpoint Ventures
Segall joined Redpoint in 2021, concentrating on SaaS, developer tools, AI, and security startups. He likes to invest in companies early, at either seed or Series A, with checks ranging from $1 million to $30 million.
"I've worked in startups like Palantir, C3.ai, and RelateIQ across engineering, product, and presales and leverage those experiences to help founders on everything from recruiting and interviewing candidates, sourcing key customer leads and helping founders with GTM strategy, and thinking through core strategic initiatives and goal setting/planning," Segall said.
Iris Sun, 500 Global
Earlier this year, Sun moved from TSVC to 500 Global, where she focuses on data infrastructure, vertical intelligence applications, and cybersecurity startups. Sun invests in pre-seed to Series A rounds, with check sizes ranging from $150,000 to $5 million.
"What truly excites me is finding highly technical founders who deeply understand their domains and are committed to building ambitious global companies that can reshape their industries," Sun said.
Companies she has backed include d-Matrix, which is developing a digital in-memory computing architecture, and Ridge Security, an AI agent platform for security validation.
Christopher Wan, Bessemer Venture Partners
Wan has been spearheading Bessemer Venture Partners' early-stage deep tech investments, including in quantum computing, defense tech, and AI and machine learning. Wen has worked closely with the firm's AI and defense companies, including Bastille, Lumachain, and ModelCode.ai, Bastille, a company developing hardware and software to provide wireless intrusion security software to the US government, recently raised a $44 million in Series C funding.
Wan also helped lead Bessemer's investment in defense AI startup DEFCON AI's $44 million seed round this year.
Prior to joining Bessemer, Wan was an investor at In-Q-Tel and Tusk Ventures, investing in companies at the intersection of technology and government. While getting his MBA and law degree at Stanford, Wan was part of the Stanford Institute for Human-Centered AI, where he researched and wrote policy reports on artificial intelligence.
Andrea Wang, General Catalyst
Wang joined General Catalyst as a partner in May 2023 to focus on early-stage B2B software and AI investments. In the year and a half since, she's worked on 17 of the VC firm's deals, including General Catalyst's seed investment in Pylon, which raised a $17 million Series A led by Andreessen Horowitz in August.
Before joining General Catalyst, Wang led product growth efforts at the analytics company Amplitude, which now helps her understand the pain points of the enterprise startups she invests in. She's also an angel investor, making bets alongside VC heavy-hitters like Sequoia Capital and Coatue, as well as General Catalyst.
Based out of General Catalyst's San Francisco office, Wang helps cultivate relationships between the firm and founders in the Bay Area, including by working with student organizations at Stanford University to identify top student builders. She recently hosted a speed-dating-style event series meant to help entrepreneurs find cofounders in the community.
Derek Xiao, Menlo Ventures
Menlo has called Xiao a "driving force" of its investments at the frontier of artificial intelligence. Early last year, he led the diligence process for Anthropic — before it had any revenue and before others saw it as a threat to OpenAI's dominance. His iron grasp on the technicals helped the firm establish a thesis for how enterprises would adopt large language models and allowed it to gain conviction in Anthropic before the opportunity was obvious.
Xiao found further success with an investment in Neon, a serverless-database provider that has since raised from Microsoft and is now seeing rapid adoption from enterprises.
He also led Menlo's thesis work around infrastructure to power the next generation of apps. This led Menlo to lead a $40 million Series B round of funding for Unstructured, a startup that helps enterprises transform unstructured data into formats compatible with large language models.
Before he became an investor, Xiao worked as a consultant at Bain & Company.
Mark Xu, Lightspeed Venture Partners
Xu is a growth investor at Lightspeed, focusing on enterprise software companies raising Series B rounds and beyond. He typically deploys $50 million to $150 million. Xu splits his time between finding new companies and doubling down on existing investments like Wiz, Glean, Grafana, Verkada, and Anduril.
Xu prides himself on connecting companies to the right people.
"I've been fortunate to build individual relationships with a wide variety of people," Xu said. "I love being able to 'activate' my network and share those relationships with the companies I work with."
Yuanling Yuan, SignalFire
Yuan, who goes by "YY," came to VC from particularly unconventional beginnings — as a women international master in chess. She landed that title at age 14 and was the top female player in Canada for seven years, leading her to start a nonprofit during her high-school years called Chess in the Library, which has run more than 30 chess programs at public libraries across Canada.
Now, as a partner at SignalFire, Yuan tries to predict several moves ahead in healthcare. She's helped grow SignalFire's healthcare portfolio to 30 startups, including by co-leading the firm's investments into startups like the AI-powered medical coding company CodaMetrix, which SignalFire first backed in 2023 at the time of its $55 million Series A, and Praia Health, which spun out of the health system Providence to land a $20 million Series A in April. She sits on the boards of Praia Health, the medical data annotation platform Centaur Labs, the medication adherence startup Wellth, and the clinical documentation company Health Note.
Before joining SignalFire in 2019, Yuan spent two years at Blackstone working on the firm's emerging-markets team and then evaluating late-stage and IPO investments. She also cofounded the New York Corporate Chess League, which saw Blackstone players face off with teams from top institutions like Goldman, JPMorgan, and Bank of America Merrill Lynch.
Jelena Zec, Citi Ventures
In her three years with Citi Ventures, Zec has executed on nearly a dozen investments — more deals than some investors hope to make in twice the time. This year, she led Citi's investments in Wealth.com, an estate-planning company; Finix, a payment processor taking on Stripe; and Norm AI, a company working to automate regulatory compliance.
Zec has spent her career in venture capital and growth investing and now acts as a critical bridge between founders of fintech and wealth companies and large financial institutions that are target customers. Her efforts help startups win enterprise business and ensure Citi has access to startups whose partnerships keep the bank competitive.
Emily Zhao, Salesforce Ventures
Salesforce Ventures has committed $1 billion to invest in new applications for artificial intelligence, and it's counting on Zhao to surface the best and brightest teams for investment. Since she joined the firm in 2022, Zhao, a principal, has played a pivotal role in leading some of its biggest investments, including Anthropic, Hugging Face, RunwayML, Protect AI, and Cohere.
More recently, Zhao sourced and led the latest round in Together AI, a startup that allows businesses to train and deploy their own large language models or an open-source model, and one of the largest investments Salesforce Ventures has made in the genAI category to date.
Before Salesforce Ventures, Zhao started her investment career as an associate in the private equity group at Blackstone, where she focused on corporate buyouts. Her passion for finding and backing exceptional founders led her to switch to earlier-stage investing.
Ivan Zhou, Accel
Zhou's arrival at Accel in March felt more like a homecoming than a fresh start. Before he became an investor, Zhou founded and led a social gaming company, Mayhem, that raised money from Accel. In 2021, Niantic, the maker of "Pokémon Go," acquired his startup for an unknown sum and put Zhou in charge of product for its game platform. He built out new social and community features and, on the side, advised early-stage founders in Accel's portfolio.
This past spring, Zhou led Accel's Series A investment in Decagon, a buzzy startup developing virtual agents for customer support. He chased down the team before his official start date with Accel, and the term sheet was signed during his first week on the job.
Business Insider asked 27 venture-capital investors to nominate the most promising fintechs.
Fintechs using AI to help Wall Street firms, bankers, and consumers lead this year's series.
Here are the top 15 AI fintechs, according to VCs.
Fintech investors still see at least one bright spot in the industry, despite funding to the sector hitting one of its lowest points since the pandemic.
Total funding to fintechs fell once again last quarter, according to CB Insights' third-quarter data. Only 753 deals were inked, notching the lowest quarterly level since 2017.
However, the dealmaking drought could ease up in the next year as a result of antitrust scrutiny softening and VCs might be more willing to open up their pocketbooks. One area that investors will likely hone in on once they do is AI.
Earlier this year, Business Insider asked dozens of VCs to identify the most promising fintechs to watch. Nearly one-quarter of the startups they named are leveraging AI as a key part of their offering. Indeed, it is difficult to point to one area of finance where AI startups aren't threatening to change the way people bank, invest, save, and work.
Some of the startups on this list are business-facing, helping dealmakers negotiate debt agreements, streamlining tedious processes for junior bankers, or automating manual processes for accountants and CFOs. Others use AI to serve consumers, whether it's helping them figure out the best way to pay off debts or maintaining access to healthcare between jobs.
The startups named haven't raised beyond a Series C and include a mix of investors' portfolio companies and ones they have no financial interest in.
Here are 15 of the most promising AI fintechs to watch, according to top VCs.
BeatBread
Cited by: Deciens Capital (investor)
Total raised: More than $150 million
What it does: BeatBread uses AI to analyze and predict revenue potential for the music industry, providing funding advances to a broad range of artists.
Why it's on the list: "Artists of all sizes want independence and ownership over their music, to work with their preferred partners, and to control their own destinies. Historically, there hasn't been a real alternative to the major label advance for artists to get the capital they needed to scale their careers, which locks them into the label ecosystem," Dan Kimerling, the managing partner at Deciens Capital, said.
"2024 has been a pivotal year for BeatBread, marked by strategic moves and partnerships that further solidify its mission," Kimerling said, referring to its partnerships with the administrative publishing company Kobalt and its subsidiary AMRA to offer artists increased royalties and faster payments. Other strategic moves include a series of deals providing funding to independent labels to expand how BeatBread provides capital to artists.
Brico
Cited by: TTV Capital, Homebrew
Total funding: $8.1 million
What it does: Brico helps financial institutions and fintechs manage their licensing by using AI to automate applications and renewals.
Why it's on the list: "With Brico, businesses can effortlessly navigate the complexities of acquiring, renewing, and managing compliance for various financial licenses — including Credit, Money Transmitter, Mortgage Loan Originator, and more — in all 50 states," Lizzie Guynn, a partner at TTV Capital, said. "Brico makes regulatory compliance seamless and cost-effective with its user-friendly tools that reduce time and money spent on financial licenses."
"It's addressing a very manual and expensive process that nearly every financial services company needs to deal with on an annual basis," Satya Patel, a partner at Homebrew, said.
Cascading AI
Cited by: QED Investors, Vesey Ventures
Total raised: $4.1 million
What it does: Cascading AI, through its main product Casca, offers loan-origination software for the banking sector with an integrated AI assistant that allows firms to extend their hours.
Why it's on the list: "Customers do not operate on the 9-to-5, Monday-to-Friday schedules that banks do," Laura Bock, a partner at QED Investors, said. "When a pizzeria's oven breaks, the owner is inquiring about a loan after closing shop. While today, it might take nearly three days to hear back from a loan officer after submitting an application, financial institutions using Casca's AI platform are able to unlock 24/7, 365 support for current and potential customers."
Dana Eli-Lorch, a founding partner at Vesey Ventures, said: "Their flagship product, an AI-powered loan assistant, enables manifold increases to banks' productivity and loan conversion rates, all while enhancing both accuracy and applicant experience. Casca exemplifies the powerful impact AI can have on financial services, driving significant operational efficiency and customer satisfaction."
Clerkie
Cited by: Flourish Ventures (investor)
Total raised: $41 million
What it does: Clerkie embeds its AI debt-automation software in financial institutions' mobile apps, allowing consumers to make financial decisions about their debts and discover solutions if they're struggling to pay them off.
Why it's on the list: "Clerkie's data flywheel and network create a win-win scenario for both consumers and financial institutions. Consumers enjoy a seamless experience within their banking app, with flexible solutions tailored to their specific cash flow needs, helping them avoid the collections process and protect their credit scores. Banks benefit from direct ROI through loan repayment while maintaining customer relationships," while also expanding loan-to-value ratios, Flourish Ventures' Emmalyn Shaw said.
She added that "Clerkie assumes no balance-sheet risk, serving as the debt-network and debt-payment infrastructure for financial institutions."
What it does: Comulate automates insurance statement processing, reconciliation, revenue recovery, and forecasting.
Why it's on the list: "Leveraging AI to drive real revenue lift for insurance carriers is driving success in a category" that's historically been hard to break into, Charley Ma, a cofounder and managing partner of Pathlight Ventures, said.
Coris
Cited by: Pathlight Ventures (investor)
Total raised: $3.7 million
What it does: Coris builds software for fintechs and other tech companies to manage risk and fraud among small- and medium-size business clients.
Why it's on the list: "Aggregating unstructured data on SMBs to generate insights at scale is challenging. Coris is at the forefront, leveraging a variety of methods across LLMs, ML, and good old-fashioned software to establish itself as the leading platform for managing SMB risk and fraud — already working with clients like Mindbody and ClassPass," Pathlight's Ma said.
Fintary
Cited by: Harlem Capital (investor)
Total raised: $2.5 million
What it does: Fintary helps insurance companies manage their finance and accounting needs by using AI to automate workflows.
Why it's on the list: "They have been invited to their customers' conferences in order to share the product with their customers' customers," Henri Pierre-Jacques, the cofounder and managing partner of Harlem Capital, said. He said Fintary has grown more than 10 times since Harlem's investment last fall, adding that "the quick ramp has been one of the fastest we've seen for a preseed company."
Greenlite
Cited by: Greylock (investor)
Total raised: $4.8 million
What it does: Greenlite automates compliance processes using AI for fintechs and banks.
Why it's on the list: "Greenlite has seen exceptional customer demands with enterprise banks and fintechs and has proven one of the few enterprise-grade applications for generative AI — automating tedious compliance workflows like alert handling, periodic reviews, and document processing, improving efficiency and reducing human error," Seth Rosenberg, a general partner at Greylock, said.
Iris Finance
Cited by: Redpoint Ventures
Total raised: $3.5 million
What it does: Iris Finance offers consumer-facing companies AI-powered financial planning and analysis software.
Why it's on the list: "While the notion of AI bookkeeping is very much in vogue today, replacing Quickbooks is hard — and not something most brands or outsourced accountants are looking to do in the near term," Redpoint's Clark said. "Iris, instead, complements Quickbooks with a more holistic AI-powered CFO-in-a-box for brands, enabling them to seamlessly track and improve day-to-day sales and margin performance across channels, which much more closely aligns with what founders want and how modern brands are managed."
Materia AI
Cited by: Bain Capital Ventures
Total raised: $6.3 million
What it does: Materia AI helps accountants organize their data, enabling them to automate parts of their work.
Why it's on the list: "With a decline in new auditors and an immense volume of manual data entry, professional-service audits are the perfect place for an AI copilot," Alysaa Co, principal at Bain Capital Ventures, said. "LLMs enable the automation of work like ingesting large sets of unstructured financial data, searchability, comparing against historicals and across the industry, and direct citations for where the data comes from."
Nilus
Cited by: Vesey Ventures (investor)
Total raised: $8.6 million
What it does: Nilus offers an AI-powered cash and treasury management platform for fintechs, financial firms, marketplaces, and other companies moving money.
Why it's on the list: Nilus "provides better data connectivity combined with AI to transform the CFO suite: a trend we are actively investing behind," Lindsay Fitzgerald, a general partner and the cofounder of Vesey Ventures, said.
"With Nilus, treasurers can skip the manual reconciliation work that previously took most of their day and focus on actions that can drive bottom-line impact. We think Nilus is poised to become the default software for modern treasury teams, displacing decades-old workflow tools like Kyriba and GTreasury," she said.
Noetica
Cited by: Avid Ventures, Index Ventures
Total raised: $7.85 million
What it does: Noetica helps deal professionals negotiate debit agreements with their data using an AI platform that benchmarks terms in corporate debt transactions.
Why it's on the list: "Noetica is a capital-markets data company for corporate debt, a market valued at trillions of dollars. Its AI-powered software allows professionals to upload any credit or bond document and compare all terms to similar public and private deals," Jahanvi Sardana, a partner at Index Ventures, said.
"Corporate debt terms are time-consuming and difficult to benchmark, leading deal professionals, such as lawyers and investment managers, to often miss higher-risk terms, as well as opportunities for negotiation. By building the largest proprietary dataset of corporate debt terms, Noetica is changing how these deals are negotiated and transacted," Tali Miller, a founding investor at Avid Ventures, said.
Novella
Cited by: Avid Ventures (investor)
Total raised: $2.5 million
What it does: Novella is an AI-powered insurance wholesaler specializing in excess and surplus insurance, which addresses higher-risk situations that standard carriers don't usually cover.
Why it's on the list: "Given the complexity of E&S insurance, it is sold through wholesalers who have relationships with specialty carriers, and retail brokers must work with these wholesalers to access these carriers. However, brokers have been frustrated by the leading wholesalers such as Ryan Specialty, Amwins, and CRC Group, whose lack of technology and system integrations lead to slow, inefficient, and opaque quoting processes," Avid Ventures' Miller said.
"The E&S market continues to grow," Miller said, adding that E&S direct premiums written in the US climbed to more than $86 billion in 2023, more than doubling since 2018.
"Using data and AI, Novella aims to reinvent this massive industry by making the information transfer between brokers and carriers fast and error-free and, ultimately, automating quote creation," she added.
Rogo
Cited by: Two Sigma Ventures
Total raised: $26 million
What it does: Rogo is building a generative AI assistant to help investment bankers and analysts do their jobs more efficiently.
Why it's on the list: "Rogo's platform is purpose-built for the complex data needs of the financial sector, allowing nontechnical users to query vast amounts of financial data using natural language processing. This is a game changer for institutions like banks, investment firms, and insurers," Frances Schwiep, a partner at Two Sigma Ventures, said.
"I see immense potential in Rogo's ability to give first-of-its-kind access to critical financial analytics, positioning them as a key player in transforming how financial institutions interact with their data to drive more informed decisions across the industry," she added.
What it does: When uses an AI assistant to help exiting employees maintain access to healthcare by providing affordable alternatives to COBRA and making it easy to compare pricing and deductibles.
Why it's on the list: "There are more than 700,000 companies in the United States with 20-plus employees, which means they are required by law to offer COBRA. Last year's 721,677 planned job cuts brought some of the largest reductions in company head count that we've seen in the past two decades," TTV Capital's Guynn said.
"Offering an alternative to expensive, inflexible COBRA not only makes common sense but also economic sense. COBRA participants are three times more costly than active employees, which is especially burdensome for self-insured companies. To date, companies that offer When's fixed-dollar health-insurance premium reimbursement have seen an 80% conversion rate from COBRA. Employees that applied their When benefit to available plans have saved as much as 50% in out-of-pocket healthcare costs," Guynn said.
New York-based investor Nihal Mehta of Eniac Ventures created Pitch and Run in 2019.
The group hosts weekly fun runs across the country for tech founders and investors.
Pitch and Run members have matched with co-founders and raised funding through the group.
For Nihal Mehta, running is, first and foremost, a way to decompress from the fast-paced lifestyle of building a startup.
The co-founder of Eniac Ventures — an early-stage generalist firm based out of New York that raised $220 million across two funds earlier this year — has managed to blend his passion for running with his day-to-day. His brainchild is Pitch and Run, a bona fide run club for founders, investors, and other members of the tech community to connect over their shared love of startups as well as running.
Today, Pitch and Run has grown to include thousands of runners of all speeds and abilities who attend meetups in nine cities, including Los Angeles, Chicago, Austin, and San Francisco.
"An exhaust valve"
Mehta first discovered running through middle school sports, and he was the captain of his high school track and field and cross country teams.
After leaving the sport behind in college, Mehta returned to running in the early 2000s as a form of stress relief while building multiple startups, including social media site LocalResponse, and eventually Eniac Ventures in 2009.
"I needed a way to decompress and just think and process my thoughts while running a startup and deal with the everyday highs and lows," he told BI. "The long runs really sorted me out from a mental and physical perspective, and kept me balanced. That was my exhaust valve, really."
By 2019, Mehta, who was living in New York's Chelsea neighborhood at the time, had recruited a handful of investor friends to join him for morning jogs along the West Side Highway, a popular route for runners in the city. The meetups were a hit, and Pitch and Run was born.
While the group reaped the benefits of exercise as a stress-relieving counterbalance to startup life, Mehta noticed something else: his friends were having an easier time opening up about the challenges they were facing professionally.
"Building is very lonely, and very few people know what it's like, but when you mix running and that element of decompression with community and other founders, it really becomes magic," he said.
In New York, there's now a Pitch and Run meetup every day of the week in either Brooklyn or Manhattan. Before each run, everyone circles up, introduces themselves, and says how many previous Pitch and Runs they've attended. At the beginning of the week, attendees are also prompted to share a goal or manifestation for the week, such as closing a funding round or signing a customer. At the end of the week, runners share what they're grateful for.
The introductions are followed by applause and support before everyone sets off on their run. In New York, the run is a five-mile, out-and-back route ending at a local coffee shop, where many attendees stay afterwards to continue visiting. Mehta said that the format was specifically designed to help newcomers break the ice and to create conversation topics for people to come up to each other during the run.
Mehta likens running to the popular YouTube show Hot Ones, where celebrities are interviewed while eating a plate of increasingly spicy chicken wings.
"When you're running, your heart rate also goes up, and similar types of conversations happen," he said. "Obviously people aren't going crazy from spice, but people are being really truthful and authentic. When people are showing up and being who they are, they end up getting the support that they need."
Pitch and Run is helping some startups get funding.
In addition to stress relief and enjoying a shared hobby, Pitch and Run has created an opportunity for multiple founders to build meaningful relationships with investors that have turned into funding for their startups.
For example, Mehta met Dee Murthy about three years ago at a Pitch and Run meetup. Murthy, in addition to co-founding the LA-based The Run Club, was building a B2B inventory marketplace startup, Ghost. After getting to know Murthy and Ghost on the run, Mehta co-led the company's seed round in 2021, and the startup has since become one of Eniac's fastest-growing portfolio companies. Ghost raised $40 million in Series C funding in October.
Eniac will also lead the pre-seed round for Pitch and Run co-founder Kevin Weatherman's latest startup, which is in stealth. Weatherman is an investor himself, having made more than 100 angel investments in early-stage startups, some of which he was introduced to through the Run Club.
And for Pitch and Run member Shahn Christian Andersen, his connections through the club regularly intersect with his work life. The founder and CEO of a stealth tech construction startup said that he's had Pitch and Run members pop up by surprise in due diligence calls from VCs. He also spent months running next to a woman who ended up being a member of the VC firm that was investing in his company.
Earlier this year, Mehta launched PNR Ventures, a syndicate for Pitch and Run members to combine their shared tech experience and capital into an investment vehicle. PNR's investment thesis includes backing early-stage founders who have the resiliency to "go the distance" of building a startup.
As a serial connector — Mehta and Eniac are well-known in the New York tech scene for hosting events and initiatives throughout the year and through programs like New York Tech Week – Mehta says that creating a running community has had the most impact on founders, who show up for a variety of fitness reasons — whether it be to finish a 5K, ruck, or train for an ultramarathon.
Mehta himself completed his fifth New York City marathon earlier this month, sharing the course with 25 other Pitch and Run members.
"Founder peer groups, dinners, and coffees are amazing and great, but there aren't nearly enough of these communities," he said. "Pitch and Run is an intense personal and professional support group that has really transformed a lot of lives."