Conductive Ventures announced today it has raised $200 million for its oversubscribed third fund, Conductive Ventures III, which brings total assets under management to $450 million. The strategy of Fund III is to focus on early efficient growth companies led by non-traditional founders in the areas of software, hardware, technology-enabled services and blockchain.
Founded in 2017, by longtime venture capitalists and operators Carey Lai and Paul Yeh, Conductive Ventures has made 31 investments across both Fund I and II including CSC Generation – a digital first retail platform, Forte – a blockchain solution for game developers, HireEZ – an AI-based outbound recruiting SaaS solution, Nice Healthcare – a reimagined primary care healthtech solution, Self – a fintech company that helps people build credit, Versatile – a data-driven solution for construction, among others. The firm also has had 7 exits to date including 3 initial public offerings from Desktop Metal (DM), Proterra (PTRA) and Sprinklr (CXM), a coin distribution from Rally and M&A exits from Dor (acquired by Constellation Network), Oculii (acquired by Ambarella (AMBA)) and Travelbank (acquired by US Bank (USB)).
“Our firm strategy is to focus on capital efficient companies,” said Carey Lai, Founding Member and Managing Director. “We believe that while talent is equally distributed, access to capital is not. Our goal is to find and fund the best entrepreneurs wherever they’re located. In fact, over 50% of our portfolio companies are headquartered outside the greater San Francisco Bay Area, and over 67% of our Founders/CEOs are immigrants and/or minorities.”
“We love working with scrappy entrepreneurs who want to build an enduring business while balancing growth and cash burn,” said Paul Yeh, Founding Member and Managing Director. “We assist them with business development and go-to-market strategies, recruiting assistance, guidance on business models and focus areas, and access and introductions to the pertinent venture capitalists who could lead future rounds of financing.”