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News and Media

GFT Ventures Q3 2022 Update

Momentum Continues for GFT Ventures’ Fund I

As we’ve reported to you previously, GFT Ventures’ inaugural fund is now well oversubscribed from our initial $100 million target. Based on the tremendous startup investment opportunities we’re currently seeing (at what we politely/internally refer to as “more typical” early stage valuations), it now appears that our fundraise timing could not have been more ideal. It’s equally exciting to us that we continue to enjoy strong inbound interest from new potential LPs in the fund. As a result, we have decided to continue to fundraise, on an extremely selective basis, with our absolute final closing expected before year end 2022.

Despite a bit of a summer slowdown as markets have “adjusted”, GFT Ventures has continued to aggressively evaluate promising early-stage companies in our key investment areas (AI, Data Science, Automation and Blockchain). And we are pleased to announce that we’ve closed two new investments in the past quarter. Mighty Technologies is GFT’s first digital healthcare investment. The company’s innovative flagship product, Mighty Health, is a nutrition and fitness wellness app tailored to older adults. In addition, we led the Series A financing for Ronday Technologies, which provides a virtual connection/collaboration platform enabling Web3 communities to work together in shared online spaces. Additional details on these new deals can be found in the Featured Portfolio Companies section below.

As always, thank you for your continued support of the GFT Ventures franchise. We are privileged to enjoy significant, undeployed “dry powder” during this challenging period of adjustment and consolidation. And we remain laser focused on our mission to partner with the most talented founders solving the world’s most challenging frontier technology problems for the largest markets.

Best regards,

Jeff Herbst and Jay Eum

Founding Managing Partners, GFT Ventures

Read the rest of the newsletter here.


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