Ulu Ventures Raises $208 Million for Fund IV to Expand its Portfolio of High-Growth Tech Startups in Palo Alto

Ulu Ventures, a venture capital firm based in Palo Alto, California, has successfully raised $208 million for its Fund IV, marking a significant milestone in the firm’s growth.

This latest fund will allow Ulu to expand its reach and continue backing high-potential startups, especially in the realm of information technology and internet companies.

With the new funding, Ulu Ventures has now doubled its assets under management, bringing the total to over $400 million.

Support from Key Institutional Investors

A wide array of institutional investors has contributed to the success of Fund IV, showcasing Ulu’s broad support base.

Notable contributors include major foundations like the John D. and Catherine T. MacArthur Foundation, the Ford Foundation, the CalWellness Foundation, and the Marguerite Casey Foundation.

Additionally, public pensions, fund-of-funds such as GCM Grosvenor and Verdis Investments, and mission-driven investors like Mercy Investment Services have also lent their support.

Family offices including Pivotal Ventures, Gingerbread Capital, and Hunt Holdings, along with corporate giants like Citi Impact Fund and MassMutual’s First Fund Initiative, also participated in the fundraise.

A Collaborative and Supportive Investment Approach

At the helm of Ulu Ventures is CEO and Co-founder Miriam Rivera, who leads alongside Clint Korver, Steve Reale, and Maria Salamanca.

The investment team at Ulu is known for its hands-on, collaborative approach to working with founders.

They guide startups through a structured market-mapping process and provide comprehensive onboarding and targeted support to help companies scale.

Their involvement extends beyond the seed stage, offering Series A fundraising assistance to ensure startups have the resources they need to continue growing.

Notable Portfolio and Success Stories

Ulu Ventures’ portfolio includes some major success stories, including ten unicorns such as Guild Education, BetterUp, Figure, and Provenance.

The firm has also seen successful exits, with companies like SoFi (now publicly traded on NASDAQ), Krux (sold to Salesforce), and Palantir making a significant impact in the tech world.

This track record demonstrates Ulu’s ability to identify and nurture high-growth companies poised for long-term success.

Team Expansion and Continued Success

In addition to the new fundraise, Ulu Ventures has strengthened its leadership team.

Steve Reale and Maria Salamanca, who joined the firm during Funds II and III, were recently named General Partners for Fund III, further solidifying the team’s expertise and commitment to supporting startups through their growth journey.

With a growing portfolio and a focus on helping startups navigate the complexities of scaling, Ulu Ventures is poised for continued success in the venture capital space.

This article was published on TDPel Media. Thanks for reading!

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