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Todd and Rahul’s Angel Fund closes new $24 million fund

Written by Jeff Lampkin

Todd and Rahul’s Angel Fund closes new $24 million fund

After making investments in 57 startups collectively, Superhuman CEO Rahul Vohra and Eventjoy founder Todd Goldberg are again at it with a brand new $24 million fund and massive ambitions amid a enterprise capital renaissance with fast-moving offers aplenty.

Todd and Rahul’s Angel Fund” introduced their first $7.3 million fund simply weeks earlier than the pandemic hit stateside final 12 months and so they have been quickly left with extra entry to offers than they’d funding to help; they went on to boost $3.5 million in a rolling fund designed round making investments in later-stage offers past seed and Sequence A rounds.

“We closed proper earlier than COVID hit and we had one plan, however then every part accelerated,” Goldberg tells TechCrunch. “A variety of our corporations began elevating extra rounds.”

With their newest elevate, Vohra and Goldberg need to keep their huge outlook with a single fund, saying they plan to speculate three-quarters of the fund in early-stage offers whereas saving 1 / 4 of the $24 million for later-stage alternatives. Nonetheless, the duo know they seemingly may’ve chosen to boost extra.

“A variety of our friends have been scaling up into a lot bigger funds,” Vohra says. “For us, we needed to remain small and collaborative.”

A number of the agency’s investments from their first fund embrace NBA Prime Shot creator Dapper Labs, open supply Firebase different Supabase, D2C liquor model Haus, different asset platform Alt, biowearable maker Ranges and site analytics startup Placer. Their greatest hit was an early funding in audio chat app Clubhouse earlier than Andreessen Horowitz led its buzzy seed spherical at a $100 million valuation. Clubhouse most just lately raised at $4 billion.

Superhuman and Eventjoy founders announce $7 million angel fund

The pair say they’ve discovered a ton by the previous 12 months of navigating more and more aggressive rounds and that combating for these offers has helped the duo hone how they market themselves to founders.

“You by no means need to be a passive verify,” Goldberg says. “We do three issues: we assist corporations discover product/market match, we assist them super-charge distribution… and we assist them discover the most effective traders.”

A giant a part of the agency’s attraction to founders has been the “operator” standing of its founders. Goldberg’s startup Eventjoy was acquired by Ticketmaster and Vohra’s Rapportive was purchased by LinkedIn whereas his present startup Superhuman has maintained buzz for its premium e-mail service and has raised $33 million from traders, together with Andreessen Horowitz and First Spherical Capital.

Their new fund has an uncommon LP base that’s made up of greater than 110 entrepreneurs and traders, together with 40 founders that Vohra and Goldberg have beforehand backed themselves. Backers of their second fund embrace Plaid’s William Hockey, Behance’s Scott Belsky, Haus’s Helena Value Hambrecht, Lattice’s Jack Altman and Loom’s Shahed Khan.

Superhuman CEO Rahul Vohra is coming to TechCrunch Early Stage in July

About the author

Jeff Lampkin

Jeff Lampkin was the first writer to have joined gamepolar.com. He has since then inculcated very effective writing and reviewing culture at GamePolar which rivals have found impossible to imitate. His approach has been to work on the basics while the whole world was focusing on the superstructures.