Moxxie Ventures, a leading women-of-color-run VC firm founded by Katie Jacobs Stanton, recently closed its third fund. They completed this round with $95 million raised, $10 million more than their original target of $85 million. The firm is committed to making the majority of its investments in companies founded by underrepresented founders. Since its launch in 2019, it has shone brightly, having recently launched with a $25 million debut fund.
Moxie, which is defined as “having the courage to go against the grain,” inspired the name of the firm, but with a twist—adding another “X” represents the female chromosome. This unique branding reflects its mission to support diverse entrepreneurs, particularly women and BIPOC (Black, Indigenous, and People of Color) founders. Women leaders make up just under half of Moxxie Ventures’ portfolio companies. Almost half of the startups have BIPOC entrepreneurs as their founders.
At Twitter, Stanton co-founded the investment collective #Angels with other female execs at the company. She has historical touchstones in moving through the Obama administration, in his first term. Her passion for creating and supporting diversity in our tech ecosystem is the motivating mission behind Moxxie Ventures’ investment strategy. Our cornerstone strategy is to support pre-seed and seed startups.
The firm typically writes a median check of $1.5 million. It looks to take an average of 10% equity in each startup with its initial investments. Moxxie Ventures has done very early stage deals into several forward looking companies. One of those is Certn, an identity verification company that secured a $80 million Series B round last year. Another is Spellbook, an AI contract-drafting co-pilot that picked up a $20 million Series A led by Innovia in January.
In reflecting on the recent capital campaign victory, Stanton said she was really proud that it moved at the speed of trust.
“It didn’t take us as long as we thought to fundraise. We’re really happy about that, but you never know.” – Katie Jacobs Stanton
The firm’s LPs include the likes of Cendana Capital, Accolade Partners and the Nature Conservancy. It collaborates with outsourced CIO Global Endowment Management and a small number of universities. This bipartisan support reflects an increasing desire to support underrepresented founders, spur innovation, and grow our startup ecosystems.
Moxxie Ventures’ approach emphasizes investing in individuals who not only demonstrate potential for success but embody values that align with the firm’s mission. Stanton articulated this philosophy succinctly:
“who can add value and who has values.” – Katie Jacobs Stanton
Moxxie Ventures is known for their impressive portfolio and passionate diversity advocates. Collectively, their efforts are having a measurable and meaningful impact on their local venture capital landscapes. The firm’s strategic investments in these and other promising startups are a demonstration of the firm’s commitment to uplifting underrepresented communities within the tech industry.