With Fund II, we’re simply doubling down on our investment thesis, a proven fund construction strategy aligned to our AUM, and on the network effect momentum we’ve built since launching Fund I. We’ll maintain our same sector focus, seed investment stage, and a disciplined fund construction strategy – because it worked. Over the past three years with our $61M Fund I, we invested in 16 portfolio companies, secured top-tier co-investors and follow-on capital, and most importantly, delivered clear value for our founder community.

With the launch of Fund II, we’re also announcing four of our investments:  

• GoodShip – GoodShip is a collaborative, AI-enabled freight orchestration platform that is closing the gap between freight procurement and operations. GoodShip’s team, premier shipping customers, early partnerships, and rapidly developed platform all reflect both deep roots in freight and, consequently, an even deeper understanding of what transportation procurement products enterprise supply chains need to create resilience and thrive in a post-pandemic world. GoodShip’s fast commercial progress has already enabled the company to secure additional funding after we led the Seed round. 
• Base Power – Base Power is building the modern power company of the electric era. Ironspring Ventures and Base Power are both proudly headquartered in Texas, the energy capital of the country for both traditional and renewable energy. Base Power caters to the Texan spirit of independence – independence from the grid, independence from any single energy source, and independence from traditional business models.
• Wilya (FKA Gig and Take) – Wilya is enabling factories to manage existing workers and create pools of on-demand, flexible talent, helping operators find the right worker for the right job at the right time. As many industrial businesses confront drastic labor shortages at the same time government dollars are boosting manufacturing in the US, we believe Wilya’s platform will help manufacturers unlock untapped potential within their operations. Led by a team of HR and technology experts with depth in manufacturing, Wilya is poised to build off its significant market traction across specialty manufacturers in regulated industries, and we were thrilled to lead the company’s Seed round.
• Cargado – Cargado is creating a seamless platform enabling greater levels of transparency, engagement, and security for cross-border logistics. We believe the company meets the critical need for software to simplify the entire cross-border process as continued nearshoring leads to explosive trade between the U.S. and Mexico (with Mexico now the largest US importer as of 2023). Cargado’s rapid product development and associated network effects have enabled the team to secure additional funding after we led the Pre-seed round.