Announcing Tribeca Venture Partners Fund II

02.26.16

Announcements

By Tribeca Venture Partners

We’re thrilled to announce the close of our newest fund, cleverly named Tribeca Venture Partners II. We set out to raise $100M and were fortunate to be oversubscribed with a final close of $107M, a sizable increase over our $65M first fund. We are incredibly thankful that all of our institutional limited partners recommitted to our new fund. They’ve been joined by a fantastic group of new limited partners that also believe in our mission to build a leading NYC-focused early-stage venture fund.

We certainly wouldn’t be here without the unbelievable performance and support of the entrepreneurs we partnered with in our first fund. In a broader sense, TVP II is not about us, it’s about the incredible growth and vitality of the NYC tech ecosystem as a whole. When we launched TVP in 2011 there was real skepticism that an early-stage fund of meaningful scale could be successful focusing only on NYC. We disagreed and set out to prove it. So far so good…

Of the 25 companies in TVP I, 21 are based in NYC with others having a NYC presence. Most of the companies had 10 people or less when we backed them. Fast forward 4 years and they’ve collectively raised close to $1B of funding, employ thousands of people and generate hundreds of millions of dollars of revenue. Companies like Appnexus, ShopKeep, CommonBond, BetterCloud and Maxwell Health to name a few are emerging as true market leaders. And we’re just as excited by the early progress of some of our more recent NYC investments including Cognical, Mighty, Backtrace, AiCure and PebblePost.

One of the key drivers of our strategy is a set of values we established back in 2011 when starting our firm:

• Who are we: Entrepreneurs, Honest, Ethical, Direct, Humble, Hard-working, Accountable, Transparent and Pragmatic

• What are we not: Arrogant, Political, Rash, Emotional

We seek and have been lucky enough to back entrepreneurs that share these values. Having shared values allows us to work best to serve entrepreneurs in advancing their unique and special visions for the future. In a nutshell that’s why we love what we do. We get to work each day with people we respect and admire. Along the way we hope we can share what we’ve learned over the years to help founders achieve their goals.

So now with a larger fund to support the NYC tech community what kind of companies are we looking for? More of the same. We’ll back consumer and enterprise businesses. We prefer not to rigidly define target sectors as really big winners tend to create their own sectors. Our favorite “sector” is a tight founding team applying technology to the confluence of macro tends and underlying tech curves to create or disrupt a huge market. If you’re starting a company that fits in this box, or know someone who is, give us a call.

Thanks again to everyone that’s helped us make our vision a reality.

Brian & Chip

Comments (1)
  • Roger Teran March 1st, 2016 at 1:50pm

    Chip – it was great talking to you last week. Great to see the official news about fund II out and excited for what’s to come at TVP. 

    Hope to connect soon.

    Roger Teran
    Columbia Business School

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