Two-year-old Day One Ventures raises new $ 52.5 million fund to invest in valley startups – TechCrunch

In 2018, Day One Ventures was launched in Silicon Valley specifically designed to be both a VC and an investor who would also lead the marketing and communications of his portfolio. Two years later, Day One has invested in many startups to achieve this and today filed with the SEC its new $ 52.5 million fund.

The new fund is similar to the first: it invests in all sectors, from pre-seed to seed, with occasional Series A investments (from $ 100,000 to $ 5 million).

The fund was founded and is headed by Russian emigrant Masha Drokova, who, since arriving in the United States a few years ago, has been a PR and angel investor, but gave up her old life in Russia in as a politician and television journalist.

Drokova says the fund focuses on “day one” businesses, as defined by Jeff Bezos, that have a “customer obsession” embedded in their corporate culture.

She says the fund was raised during the Zoom pandemic with $ 45 million from LPs in the first fund. More than 30% of the capital is invested in the founders of POC; it has 25 women founders in its portfolio; and 33% of its capital is invested in high growth “impact” companies. Day One has frequently co-invested with Andreessen, Index Ventures, Founders Fund and Lightspeed.

The fund has had three exits so far: Lvl5, Acquired and Feastly, and has invested in (along with Index and Sequoia).

So far, his portfolio includes:

• DoNotPay: British founder Joshua Browder started a chatbot that pays your parking ticket, cancels subscriptions and gets refunds for you. This resulted in a $ 15 million Series A led by Coatue and Andreessen.
• Superhuman: An AI-based email client for executives founded by Briton Rahul Vohra – he raised a $ 35 million Series B from Andreessen.
• Truebill: a personal finance and savings app.

The fund says its portfolio companies have now raised a total of $ 825 million; more than 25% of its capital is in financial technology companies; over 30% in AI-powered startups; and he claims to have hit over 500 media posts for his portfolio.

Speaking to TechCrunch, Drokova said, “We choose startups with ‘customer obsession’ as the primary selection objective. Second, our added value in communications means that we have people like Jack Randall who have done communications for Robin Hood on our team. Few immigrant women in the United States have raised that much, that fast. So this is a good sign for the market.

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