- Matchstick Ventures, a seed-stage investment company, announced it raised $30 million for its second fund
Seed stage investment firm Matchstick Ventures announced recently that it raised $30 million for its second fund. This investment will be used for funding “underserved startup ecosystems.” Foundry Group is one of the investors in this round.
“After exiting their companies, Ryan and Natty both found themselves deeply ingrained in their local startup communities and developing a true love for helping founders. That love led them both to Techstars, where they continue to be involved (Natty as MD of Techstars Boulder and Ryan as a venture partner). This shared experience and culture led to teaming up on Matchstick. The firm was born out of a desire to strengthen startup communities by providing resources to founders and ‘helping startups strike,'” wrote Jaclyn Freeman Hester, a principal at Foundry Group.
This is a significant jump from the $5 million first fund. With the second fund, Matchstick will write initial checks of about $500,000 along with follow-on investments of $1 million to $2 million, according to TechCrunch.
Matchstick partners Ryan Broshar and Natty Zola are based out of Minneapolis-St. Paul and Boulder. The partners are focused on the North, the Rockies, and startups that are part of the Techstars ecosystem. This fund has already made a few investments, including in startups like Onward, Soona, Upsie, Pana, and Ordermark (Los Angeles).
Zola is a co-founder and former co-CEO of Everlane (acquired by AOL in 2012) and Broshar has been a tech investor for more than ten years.
