January Ventures closes $21m Fund II to invest in formation stage B2B software startups
January Ventures announced an oversubscribed $21 million Fund II to continue investing in formation stage B2B software startups. Securing early funding is pivotal to a startup's ultimate success, but has traditionally required founders to have a certain pedigree, network, and location. Now, with the launch of an oversubscribed Fund II, January Ventures aims to be the on-ramp for early stage B2B technology startups, providing both funding and a transformational network to help them succeed.
January Ventures invests in startups building technology for the empowered individual. The woman-owned venture capital firm focuses on replacing the friends and family round, fully capitalizing founders from the start as they turn moonshot ideas into mainstream solutions.
Jennifer Neundorfer, Co-founder and Managing Partner, January Ventures: "Technology is enabling people to take control of their lives like never before, particularly as it relates to their work and their physical, mental and financial health. We're investing in the infrastructure layer powering this shift, including the future of work, fintech, and digital health."
To find visionary founders, January Ventures takes a different approach than most venture capital firms. The firm's goal is to invest early in founders with the best ideas, not the best connections, so January doesn't require a warm introduction. With this sourcing strategy, January Ventures has built one of the most diverse portfolios in venture - 90% have a female founder, 32% have a Black or Latinx founder, and 42% have an immigrant founder.
Maren Bannon, Co-founder and Managing Partner, January Ventures: "The problem with the traditional friends and family round is that not everyone has access to one, which has caused a lot of the inequity in tech. We believe the founders of the next decade will look fundamentally different: more female, more diverse, and more distributed. We back founders based on their tenacity and ambition, not their pedigrees or who they know."
In addition to funding, January Ventures connects founders to an operator network with more than 100 tech leaders who have worked at over 50 unicorn companies, including Uber, Twitter, Miro, Compass, Toast, Airbnb, Google, Amazon, and Stripe.
January Ventures has invested in 50 startups, including Ethena, Kapwing, PlanetFWD, Sonantic, Ntropy, Sorcero, Gable, Oula Health, Kinside and Elektra Health. Out of this new $21 million Fund II, the firm plans to invest in 35 to 40 companies.
Julia Collins, Founder and CEO, Planet FWD: "I'm so excited for the continued growth of January Ventures. Jen and Maren are at the forefront of redefining the future of venture capital. Their commitment to creating a more just and equitable tech ecosystem will have a huge impact on this generation and those to come. It's been such an honor to be a part of the amazing diverse community that they have created around their firm."
January Ventures has proactively built an investor base that reflects the diversity of its portfolio - 60% of its LPs identify as women. Fund II investors include leading institutions like Wellington Management, Bank of America, IDEAL Investments, and The Kapor Foundation.