Equal Ventures, a enterprise agency that debuted in 2020 with a $56 million first fund, has raised a pair of recent funding automobiles, SEC filings present. The New York Metropolis-based agency has closed a $94.8 million second fund and its first alternative fund, worth $75 million.
The funding agency is led by two traders, Richard Kerby and Rick Zullo, equal companions within the agency. Kerby declined to remark concerning the funds over e mail.
Equal Ventures seems to be the primary institutional investor in a startup, a degree of conviction that implies that it’s extra targeted on a concentrated portfolio than small checks in a widespread group of startups. The agency’s portfolio consists of Ghost, a market that connects manufacturers with additional stock to retailers, Block Renovation, a platform that productizes the house renovation expertise for shoppers, and Smarthop, which helps truckers optimize their work.
Zullo previously invested on behalf of Lightbank, a Chicago-based enterprise operation, whereas Kerby spent years investing with Venrock. He additionally spent years independently researching inequality in enterprise.
The agency backs founders and companies that it believes are “ignored and misunderstood by the previous guard,” in keeping with its web site. “Because the world of enterprise modifications, so does the point of view required to succeed.”
Equal invests in 5 key sectors: local weather, retail, provide chain and logistics, insurance coverage and advantages and what it describes because the care economies, which encompasses childcare and eldercare. The staff has grown since Equal’s first fund, with it hiring Liz Hart and Simran Suri as associates and Chelsea Zhang as a senior affiliate. The agency is hiring an insurance coverage and fintech-focused affiliate, as nicely, according to a Medium post.