$60M Maven Fund IV: Fresh Capital to Lead the Next Decade
Today the Maven team is thrilled to unveil our $60 million Fund IV. This latest fund culminates a decade of working together for our team — investing in talented, bold founders building tech companies addressing emerging consumer behavior and trends. We are driven to help those visionary founders unlock their potential to build iconic brands like Zoom and Cruise. Read more about our plans for Fund IV in today’s exclusive coverage from TechCrunch: Consumer tech investing is still hot for Maven Ventures, securing $60M for Fund IV.
In the backdrop of this market climate, the significance of crowning a ten-year history and successfully closing a new pool of capital is not lost on our team. We are immensely grateful to the bold founders we back and to our LPs for their continued belief in Maven’s team and strategy. Fund IV brings total assets under management to $200 million with more than 60 total investments.
With this new fund, we’ll continue exploring new trends while staying consistent with our investment strategy that’s proven successful. We have a knack for identifying phenomenal, technical founders with a Vision Worth Fighting For and the potential to build a massive company due to a new consumer trend. This strategy has led to an incredible hit rate, beating industry average by 10x, with 16% of the companies we’ve backed reaching a minimum $500 million exit or valuation. Our investments have yielded three billion-dollar-plus exits in Zoom, Cruise, and Embark, and enabled the return of significant capital to our LPs.
Fund IV: The Path Forward
A decade in, there continues to be so much opportunity ahead. The world has evolved significantly since Maven was founded. Society’s increasing complexity and technology’s continued rapid pace of change require a new generation of founders harnessing the power of emerging technologies like Artificial intelligence (AI).
Fund IV will continue our focus on seeding companies rooted in high-growth, consumer tech trends such as applications of AI, personalized healthcare, climate and sustainability, family technology, and fintech. Maven maintains a concentrated investment strategy, making only 6–8 core investments each year.
Once we invest, we become truly engaged partners. We provide devoted support to founders from inception and continue with follow-on investments as their companies scale. Throughout the years, we’ve effectively implemented this strategy across various domains and sectors, spanning over 10 years of successful investments from the emergence of mobile technology, autonomous vehicles, video communication, the consumerization of digital health, and more.
We feel particularly fortunate that this new fund aligns with the incredible evolution of AI technology. As consumer investors, we are hungry to find and fund new startups that are leveraging the power and promise of AI to make life better for everyday consumers. B2B, foundational, and infrastructure AI startups have boomed in the recent months, and we believe now is the time for new consumer applications of AI to blossom. Most people have yet to experience the true promise of AI that improves their life — and we believe we are just now seeing the emergence of nascent companies that will become household names as they make it happen. With this latest Fund IV we’ve already invested in a few, like MultiOn, a leader in building consumer AI Agents and Medeloop, a Stanford spinout leveraging AI to improve health outcomes by accelerating clinical research, with more to be announced soon.
To the bold, consumer-oriented founders that have a unique insight about how AI can deliver on this grand dream: we would love to hear from you.
Our strategy for Fund IV is to stick with what’s working. We’ll retain our highly concentrated approach led by our core investing team — Jim Scheinman, Sara Deshpande and Robert Ravanshenas. In a unique approach to success in our industry, our core team has remained largely unchanged. Jim Scheinman founded Maven in 2013, and Sara Deshpande joined as the first employee in 2014. She continues as a General Partner in Fund IV. Robert Ravanshenas, Maven’s first Associate, has returned as an Investing Partner after pursuing an operating role within a Maven portfolio company. We are incredibly excited for this next chapter together.
We do not do this alone
We extend our heartfelt gratitude to our founders, limited partners, families, as well as many friends and colleagues in the industry for your unwavering partnership and faith in Maven.
Moving forward, our objective remains steady: to invest in and back bold founders in creating iconic companies that enhance the world, all while delivering outstanding returns for our LPs.
Collaborating with entrepreneurs, portfolio companies, industry experts, co-investors, and limited partners is an honor. Thank you. It’s time to roll up our sleeves and dive into the work ahead!
-Jim Scheinman, Sara Deshpande and Robert Ravanshenas
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