Footwork Venture Capital Firm in San Francisco Raises $225 Million for Its Second Fund to Support Early-Stage Tech Startups

Footwork, a San Francisco-based venture capital firm, has just announced a major milestone with the successful closing of its second fund, raising an impressive $225 million.

The fund, Footwork Fund II, L.P., was backed by 52 limited partners, as disclosed in a recent regulatory filing with the SEC.

Focus on Early-Stage Innovation

Founded in 2021 by Michael Smith and Nikhil Basu Trivedi, Footwork focuses on leading and co-leading Seed and Series A rounds for startups that are showing promising signs of product-market fit.

Their investments are primarily concentrated in the consumer tech space, as well as the growing trend of consumerizing enterprise technology.

The firm’s strategy involves seeking out businesses at an early stage, where the potential for growth is clear but the company still needs the right support to scale.

A Look at Footwork’s Growing Portfolio

Footwork’s first fund, launched in April 2021 with $175 million, has already been invested in 16 companies as of Q4 2024.

Some of the standout names in its portfolio include Table22, Cradlewise, Trendsi, Portex, Heard, Felt, Power, ReflexAI, WindBorne, Watershed, Tracksuit, and GPTZero, among others.

With the new fund, Footwork is positioning itself to continue fueling the next wave of innovative startups with the right resources and guidance to accelerate their growth.

What’s Next for Footwork?

As Footwork looks ahead, it remains focused on identifying high-potential companies in their early stages, where they can make the most impact.

Their second fund is a clear signal that they’re doubling down on their commitment to shaping the future of consumer and enterprise tech.