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LOVC Fund II Announcement

When we first launched Las Olas Venture Capital, we did so because we believed in a new generation of B2B entrepreneurs emerging outside of Silicon Valley to revolutionize legacy industries. Six years, fifteen investments, and thousands of conversations later, our conviction in that belief has only strengthened. We’re thrilled to announce today that we’ve raised $50M in fresh capital for LOVC Fund II. With this new fund, we plan on doubling down on the same strategy as our first fund — leading investments into early-stage enterprise software companies based outside of the West Coast.

We’ve always partnered with entrepreneurs at the start of their journey. This new fund enables us to keep pace with the shifting dynamics of seed rounds and write first checks ranging from $1.5 to $2 million, with meaningful capital reserved for follow-on investments. We will continue to remain sector-agnostic within the enterprise, with a particular penchant for vertical software, knowledge worker tools, and software-enabled marketplaces. As part of Fund II, we expect to welcome another 15–20 companies into our portfolio. Three of these investments have already closed (Leasecake, Mosaic, and Leverage) and we’re incredibly excited to meet the next ones.

We believe the time is now for innovation in the enterprise. The pandemic profoundly accelerated digitization across industries and the adoption of cloud technology to reconfigure outdated business processes. And the tech and entrepreneurial talent building the next category-defining companies exist everywhere. The entrepreneurs we speak with continue to impress us with the problems they identify and the unique insights they have to fix them.

We’re also looking forward to doubling down on the values that have guided our decision-making and relationships with founders thus far. With so much capital in the industry, we don’t want to be just a check. Our low frequency, high conviction approach to investing enables us to take an active role in each of our investments and our partnership’s deep operational experience helps us curate a culture of collaboration, guidance, and support with our founders. Entrepreneurs have too much on their plate for anything else. We think of ourselves as a 24/7 resource and our goal is to make working with us as enjoyable as it is productive.

We are deeply grateful and humbled for the opportunity to continue doing what we know and love every day. Our success comes from the investors that have supported us on our journey and the exceptional founders we have the privilege of working alongside every day. LOVC wouldn’t exist without these people.

To the founders interested in speaking with us, pitch us or email us at buildthefuture@lasolasvc.com.

Note: This post was taken from a post originally written by Nate Vasel and posted on Medium on April 13, 2022.

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