Tusk Ventures Closes Third Fund With $140 Million In Commitments

By Amit Chowdhry ● May 18, 2022
  • Tusk Ventures recently announced it has closed a third fund with $140 million in capital commitments. These are the details.

Tusk Ventures, a New York-based early-stage venture firm co-founded by Bradley Tusk and Jordan Nof that invests in early-stage consumer technology startups operating in heavily regulated markets across North America, announced recently that it has closed a third fund with $140 million in capital commitments. This amount is double the $70 million that the firm raised for the second flagship fund, which was closed in late 2019.

So far, Tusk Ventures has invested in over 50 startups and the firm led about 20% of those rounds. And Tusk achieved 12 exits as well, including Coinbase (IPO), Lemonade (IPO), and FanDuel (acquired by Flutter).

“When we first started out, the term ‘regulation’ elicited very different responses than it does today. While most founders or VCs either shied away or underestimated the impact of the regulatory environment on a company’s success, today the importance of having an investor who understands regulations has never been clearer,” wrote Tusk and Nof in a blog post. “In addition to working with many of our founders at the board level, we’ve also worked closely with portfolio companies to create strategies that have allowed them to grow without interference, expand into new markets and create regulatory moats around their businesses.”

Tusk Ventures also announced that Michaela Balderston was promoted to Partner. Balderston has been with Tusk Ventures since the very beginning and has played an integral role in helping to build and shape the firm. Plus Balderston has an outstanding track record of building strong relationships with our founders across multiple verticals. She had joined Tusk Ventures focusing on strategic communications and building out the firm’s platform team.

Plus Brad Welch recently joined as a Partner from Morpheus Ventures in Los Angeles where he was a Partner. LaCerda also joined as Chief Financial Officer and brings over 15 years of experience in Alternative Asset Management Finance from his time at BlackRock, Blackstone, and KKR.