LA-based venture capital fund Morpheus Ventures today announced the final closing of their second discretionary capital fund (‘Fund II’). The oversubscribed fund has exceeded its target of $200 million in commitments and is primed to continue investing in disruptive technology companies across FinTech, InsurTech, PropTech, Robotics/Automation and selected Frontier Technologies.
“With this closing, the new fund takes the total committed capital across all Morpheus funds and vehicles to over $300 million, making us one of the largest early-stage VC funds in Los Angeles. We greatly appreciate the support and confidence of our new and existing investors, which allowed us to complete an over-subscribed fundraise in a crowded environment,” said Joseph Miller, Managing Partner of Morpheus. “The resiliency of our existing portfolio companies through the COVID downturn, coupled with the consistency of our investment strategy and approach to value creation, ultimately resonated with a strong base of world-class investors.”
Fund II is backed by leading endowments, private pensions, funds of funds, corporate balance sheets, wealth managers and family offices in North America, Australia, and Asia. Harken Capital Securities served as the U.S. advisor and placement agent and Proskauer Rose served as legal advisor for Morpheus Ventures II.
With approximately 80% of investments from outside Silicon Valley, Morpheus’ reach uncovers the next generation of amazing founders. Morpheus’ diverse team has decades of combined personal experience as founders, operators and investors, and employs a unique people-driven approach to identify essential innovations early and aid founders with tailored support, strategy, and access to a dynamic international network.
Today’s announcement builds on the ongoing success of Fund I, which is ranked globally in the top echelon for 2016 vintages, with a flagship portfolio of companies funded at seed or Series A, including runaway successes such as leading quality inspection software SafetyCulture [ https://c212.net/c/link/?t=0&l=en&o=3432506-1&h=3259612911&u=http%3A%2F%2Fwww.safetyculture.com%2F&a=SafetyCulture ], real estate valuation platform HouseCanary [ https://c212.net/c/link/?t=0&l=en&o=3432506-1&h=3443094093&u=http%3A%2F%2Fwww.housecanary.com%2F&a=HouseCanary ], life insurance platform Bestow [ https://c212.net/c/link/?t=0&l=en&o=3432506-1&h=936695469&u=http%3A%2F%2Fwww.bestow.com%2F&a=Bestow ] and revolutionary healthcare insurer Sidecar Health [ https://c212.net/c/link/?t=0&l=en&o=3432506-1&h=160042660&u=http%3A%2F%2Fwww.sidecarhealth.com%2F&a=Sidecar+Health ].
“This successful fundraise is a testament to the world-class founders and management teams that we have partnered with to build their businesses,” said Kristian Blaszczynski, Partner of Morpheus. “With Fund II, Morpheus is well-positioned to back a new group of industry-leading financial and business technology entrepreneurs.”
About Morpheus Ventures
Founded in 2016, Morpheus Ventures is one of the largest early-stage investors based in Los Angeles, investing in the disruption of large markets across the technology landscape from consumer to enterprise technologies including data analytics, machine learning, robotics, transportation, and SaaS. The firm is headquartered in Los Angeles and backs great entrepreneurs worldwide.
For more information, see www.morpheus.com.
SOURCE Morpheus Ventures