- 645 is also excited to welcome its returning LPs and several new institutional LPs as investors in Fund IV and Select I. They are proud that over 90% of this capital is from traditional, institutional LPs including endowments, fund-of-funds, foundations, and consultants.
645 Ventures has announced the closing of two new funds totaling $347M: Its $194M Fund IV and $153M Select Fund I.
These new funds allow 645 Ventures to continue partnering with early-stage founders building iconic businesses that transform industries and shape our future.
The funds also allow 645 Ventures to commit to founders early in their startup journey, by leading investments at Seed and Series A and supporting founders through follow-on investments as their companies scale to the growth stage and beyond.
645 is also excited to welcome its returning LPs and several new institutional LPs as investors in Fund IV and Select I. They are proud that over 90% of this capital is from traditional, institutional LPs including endowments, fund-of-funds, foundations, and consultants.
645 is also pleased to continue to be supported by its Connected Network of LPs, which includes exceptional founders, operators, business leaders, and financiers. Members of our Connected Network have built, run, and invested in multi-billion dollar corporations.
Since 645’s inception in 2014, They’ve been laser-focused on not only being an investor, but also strive to be a thought partner who supports founders through their company-building journey. While they don’t shy away from encouraging hard decisions and sharing critique, they have empathy and patience as they partner with founders through the always challenging process of scaling from the early stage to the growth stage.
They’ve been privileged to back multiple companies that have reached $1B+ valuations, including Iterable, FiscalNote, and Panther Labs, and many companies that have exceeded $100M of annualized revenues, including Goldbelly, Resident, Bespoke Post, Iterable, and FiscalNote. We backed these companies at their earliest stages, partnering closely with their founding teams. And despite the current market downturn, over the last couple months we’ve seen 3 exits: the IPO of FiscalNote, and the acquisitions of Rosie by Instacart, and SpikeTrap by Reddit.
With the close of Fund IV and Select II, 645 now manage over $550M in AUM across five funds, with more than $400M to deploy over the next few years to exceptional early-stage founders building new infrastructure software, SaaS, and consumer startups that are built on new technology inflections.
645 Ventures invests primarily in enterprise SaaS, infrastructure software/developer tools, and consumer technologies, and they focus on 4 investment themes in those areas. They also target emerging technologies that are impacting these four categories and shaping new ones, specifically Artificial Intelligence and Blockchain/Web3. They prioritize emerging market and technology opportunities based on a framework called the Venture Investment Triangle, which allows our team to gain an equal amount of conviction in what we know (i.e. being a prepared mind to build with founders) and in what we think we know about the future.