Acadian Ventures – an early-stage venture capital firm – announced the successful close of its second fund on an oversubscribed $30 million in capital commitments. This new fund is anchored by ServiceNow Ventures and Connecticut Innovations with additional participation from venture capital firms, family offices, high-net individuals, many of the firm’s founders, and a majority of limited partners from the first fund. Acadian Ventures Fund II is almost triple the size of its inaugural first fund and the firm has already made 12 investments out of the second fund.
Acadian Ventures is a global VC firm that invests in the next generation of work technologies. And the firm is focused on four core themes: Intelligent work applications (i.e. A.I.), work infrastructure (i.e. data and APIs), new regulatory and compliance, and the emerging global workforce. These areas in technology will create opportunities for new ways to manage work, creating new market categories, and disrupting existing incumbents.
Acadian Ventures’ second fund builds on the success of the firm’s first fund by continuing to invest in the next generation of global companies that are transforming work. And Acadian Ventures has been building a strong track record of performance since its inception. Now Acadian Ventures Fund I is currently ranked as a top decile fund with investments in companies such as Oyster, Nomi Health, SmartRecruiters, and Techwolf.
Acadian Ventures was launched in 2019 and is led by general partners, Jason Corsello and Thomas Otter. And the firm has built a strong reputation as an operator-centric firm with an operating network that includes executives who have built and led some of the most successful companies in enterprise software including Salesforce, Workday, SAP, Oracle, ADP, Ceridian, and Cornerstone OnDemand.
KEY QUOTES:
“We are excited to partner with Acadian Ventures to support investment in the next generation of work technologies that are drastically improving the employee experience. The firm’s strategy to focus on maximizing human potential aligns well with our ServiceNow Ventures strategy to foster innovation in companies and market at the leading edge of digital transformation.”
— Philip Kirk, senior vice president of corporate business development at ServiceNow
“Our continued thesis is to invest in companies transforming work by leveraging technology to make people’s working lives simpler, more gratifying, and ultimately more productive. We are thrilled to continue our journey in building the most specialized early-stage venture firm, investing at the intersection of technology and work.”
— Jason Corsello
