Waldo, a New York-based investment firm, said it has closed its $225 million inaugural vehicle, Waldo I, to invest in proven, early-growth stage software and tech-enabled services companies. The firm said it is targeting entrepreneurs building enduring businesses with strong fundamentals and real-world traction, aiming to support companies on a path to scale without relying on public markets to define their outcomes.
The firm was founded by Managing Partners Jon Rosenbaum and Julie Effron, who have worked together since their undergraduate years at the University of Pennsylvania.
Waldo said both founders bring more than a decade of investing experience, with prior roles at Insight Partners and Elephant, and more than 30 combined board roles. The firm also highlighted Effron’s operating background, noting she co-founded ALICE, a hotel software company that was acquired by Expedia.
Waldo said its name reflects a strategy centered on proactively sourcing “hard-to-find” companies, pairing what it described as institutional rigor with a founder-first approach. The firm added that it has built its platform with next-generation data and technology tools intended to support sourcing and diligence, as modern founders build their businesses.
The fund is backed by a group of institutional investors, including foundations, fund-of-funds, and multi-family offices, according to the firm. Waldo said founders and operators are also investing in the vehicle, and that the raise was completed on an accelerated timeline and oversubscribed.
With the core team in place, Waldo said it plans to partner with founders globally across its target sectors.
