M13, a Los Angeles, CA-based consumer technology venture capital firm, closed a $400m fund.
The vehicle will invest in seed to Series B startups that enable the future of consumer behavior in work, commerce, health, and money.
Fund III will be deployed across early-stage technology startups building the future of work, commerce, health, and money, with an increased focus on Web3 as a horizontal technology that will permeate across these vertical areas.
- The future of work: As work becomes increasingly distributed while demanding more from employees, workplaces and workers require streamlined tools and empathetic solutions. Tools that enable smarter collaboration, feedback, and professional development will result in greater efficiencies as well as an anchor in today’s complex world. With the rise of the professional creator class (50 million people consider themselves creators), digital content creators are ready for new platforms, tools, and NFTs beyond art and entertainment that can help them with direct distribution and engagement.
- The future of commerce: Experience with direct-to-consumer brands gives M13 an edge as the firm invests in enablement, pick-and-shovel platforms, power applications, supply chain innovation, and new marketplaces. Value capture has shifted to the infrastructure layer, M13’s area of focus.
- The future of health: M13 will invest in the infrastructure layer that makes standing up a digital healthcare business easier, and focus on companies turning the promise of value-based healthcare into reality.
- The future of money: As more consumers embrace digitally native assets as a key part of their financial profile, there will be increased demand for new solutions that help them earn income and diversify assets. Solo entrepreneurs and creators also seek new financial services solutions. And tech platforms are increasingly aiding buyers, sellers, landlords, and tenants to execute real estate transactions.
Of its 15 early-stage investments that are now each valued at over $1B, seven unicorns were seeded by M13: Cabify, Cue, Daily Harvest, Matterport, Ring, Rothy’s, and Transfix. The firm has managed two top-performing funds (2015 $92M, 2019 $188M).
Founded in 2016 with offices in Los Angeles (HQ) and New York and a staff of 32, M13 is a consumer technology venture capital firm that invests in the future of consumer behavior in work, commerce, health, and money.
Its 10 full-time partners are experienced founders and/or operators with a track record of building iconic companies (DigitalOcean, Virgin Galactic, Virgin Orbit, GOAT, Gilt). M13’s 10 partners include:
- Carter and Courtney Reum
- Karl Alomar
- Anna Barber
- Brian Carroll
- Christine Choi
- Lizzie Francis
- Matt Hoffman
- Rob Olson
- Latif Peracha.
FinSMEs
03/03/2022