Day One Ventures, an early-stage venture capital firm focused on spearheading communications for its portfolio companies, has closed its debut fund on $20m.
The firm said it plans to use the fund to invest in areas such as applications of machine learning, fintech, marketplaces, consumer products, impact, health, mental health, and tech for GenZ.
It also invests in emerging tech companies including quantum technologies and space.
The firm officially launched in January last year, and has since invested in several dozen companies and had a trio of exits through Acquired.io, Feastly and lvl5.
Investments made by the firm to date include Superhuman, Atoms, Reby, Truebill, FutureFamily, AnyRoad, Nebia, Yumi, Pillar and Zestful, among others.
The firm said that in the current environment, the best startups have no shortage of investment offers, causing them to look for more than just capital.
Day One Ventures specialises in a hands-on PR approach, looking to help companies shape their story, develop communication strategies, and secure coverage in top tier media as well as help with partnerships, work with influencers and events.
Firm founder Masha Drokova said, “It’s hard to imagine the success of companies like Robinhood, Away or Airbnb without a clear, transparent and effective communications strategy.
“We created a fund structure that aligns with our founders’ interests and enables us to strategically execute our companies’ communications to expedite their growth.
“The major bottleneck when working with PR agencies is they need time that they don’t have to thoroughly understand their clients’ business. “Our communications framework alleviates this because before we invest, our team spends hundreds of hours learning each business inside and out.
“We’re the only fund in the US that couples capital investment and communications as our main strategic value, which has allowed us to offer founders and the most impactful companies something no other fund can.”
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