- Venture capital firm M13 recently announced it would be investing in emerging consumer technology companies with a new $175 million fund
M13 — a venture capital firm built by and for entrepreneurs — announced it closed a new oversubscribed $175 million fund. The fund had an original target of $150 million. M13’s Fund II is going to prioritize Seed and Series A with select Series B+ rounds in emerging consumer technology companies.
M13 supports entrepreneurs with both funding and operational expertise. Launched in 2016, M13 has offices in Los Angeles, New York, and San Francisco. And M13 executes a “founders first” approach with a team of experienced operators to help build and scale consumer technology companies.
“As former founders and operators, all of us at M13 have the experience and empathy to support our founding teams throughout their entire journey,” said M13 co-founder and partner Carter Reum. “M13 has already demonstrated success in deploying our investors’ capital into what are now household names, and we look forward to continuing our investment strategy with Fund II. Fund II will allow M13 to take meaningful ownership stakes in compelling companies and grow them in future rounds.”
M13 has over 80 direct investments and 16 exits. And M13’s prior investments total over $137 billion in enterprise value. M13 has inveted in Lyft, Pinterest, Ring, Daily Harvest, FabFitFun, Rothy’s and others.
“M13’s goal is to capture how consumer behavior will change over the next decade and invest into that change with both our capital as well as hands-on support and expertise relevant to our founders,” added M13 General Partner Latif Peracha.
Fund II will build on M13’s expertise in consumer behavior and the intersection of emerging technology and key sectors like health, transportation, food, housing, and personal finance. Some of M13’s recent investments include Capsule, Coinmine, Doorstead, Emerge and Tarform.
“I’m glad to be an investor in M13. I have followed co-founders Carter and Courtney Reum for many years. Now they have added General Partner Latif Peracha, who worked on Virgin’s US companies and looked after my US venture investments for the last seven years. M13 already has a strong track record in consumer tech and made its strength guiding entrepreneurs in a practical way. I’m excited to see how their portfolio grows,” commented M13 investor and Virgin Group founder Sir Richard Branson.
