NEW YORK--(BUSINESS WIRE)--Jan 11, 2022--
TMV, a NYC-based early stage venture capital firm, has closed its second institutional venture fund, surpassing its initial target of $60M. Oversubscribed by approximately $5M and 6x the size of Fund I, TMV’s second fund is backed by multiple Fortune 500 institutions, including three global banks, a large hospital system and U.S. Foundation. Additionally, several of the world’s largest family businesses in Europe, Australia and the United States have chosen to back TMV II.
TMV was founded in 2016 by Soraya Darabi and Marina Hadjipateras, who have leveraged decades of industry experience in technology, media and international shipping to focus on investing in early stage visionaries. The fund addresses critical needs in five key areas: the care economy, financial inclusion, the future of work, logistics and tech-enabled sustainable solutions. Since its inception, TMV’s portfolio has grown to more than 50 investments; TMV Fund I portfolio companies have gone on to raise $2B+ in follow-on capital.
“We invested in TMV as part of our Project Spark initiative because we could see that they provide meaningful value and results to the founders with whom they work. Their clear mission, coupled with portfolio diversification across a set of well researched, non-correlated sectors made this a compelling investment for us,” said Jamie Kramer, Head of the Alternative Solutions Group at J.P. Morgan Asset Management.
From the beginning, the TMV team has continued to prioritize building strong relationships and treating founders and LPs like clients within a high-touch agency. TMV’s global partners were first attracted by the team’s proven track record, a reflection of their ability to lean in strategically with informed counsel to guide portfolio founders during the early stages of their journeys.
“We make connections between investors and founders, as many of our investors have built successful businesses and can offer real world counsel,” said Soraya Darabi, Co-Founder and General Partner at TMV. “We ourselves are a team of builders who have been in the founders’ shoes before. One of the most valuable things we can offer a burgeoning company is help in creating a cohesive go-to-market plan – so that’s what we do.”
Adam Grant, LP in TMV II, stated, “The TMV team isn’t just smart; they’re mission-driven. I’ve chosen to work with them multiple times—not only due to their strong investment track record, but also because their team excels at supporting founders. One of their clear differentiators is the community that they build.”
As the firm has grown, TMV structured Fund II to enable the team to invest outside the U.S. to take advantage of an increasingly global market. Its direct ties have allowed the firm's portfolio companies to significantly expand their reach. As a result, TMV’s global presence includes a growing roster of internationally based limited partners across the world, from Singapore and Mumbai to Australia and the continental U.S. Given TMV’s wide network and ability to partner early with pioneering founders, the team has received backing from the likes of large family offices in Australia and Europe, and legacy Greek shipping institutions.
Collectively, Darabi and Hadjipateras have three+ decades of investing experience and operational expertise—including a blend of entrepreneurial and corporate leadership. Notable investment successes include: Kindbody, Cityblock Health, Gimlet, Casper, Parsley Health, FIGS, Ridwell, Nautilus Labs, Clockwise, Bulletin, Tinyhood, Running Tide, Bravely and others. The team’s collective investments include 12 exits to-date, with a follow-on rate of 90% and the total value of portfolio companies topping $17B.
Co-Founder and GP Marina Hadjipateras noted, “We began TMV because we saw an opportunity to bridge our complementary backgrounds to bring a different perspective to early stage investing. In Fund I, we identified founders who are moving age-old industries and processes forward.” She continued, “We are proud of our robust portfolio and look forward to continuing to work closely with founders actualizing complex, audacious missions with a commitment to the future.”
In 2021, TMV doubled its deal team and hired Private Equity veteran Alexia Kalfas, previously of Everside Capital Partners, as Chief Financial Officer. Looking ahead, TMV plans to continue to grow strategically, which includes working with worldwide partners to invest in the key sectors that unlock value.
TMV is a leading early-stage venture fund backing early stage founders building businesses beyond the bottom line. Founded by Soraya Darabi and Marina Hadjipateras in 2016, TMV is paving the way for a next generation of global leaders addressing the care economy, financial inclusion, the future of work, transportation and sustainability. Together, their portfolio prior to and since founding TMV includes 60+ investments, including four unicorns and 12 exits, with a follow-on rate of 90%. The total market value of those companies surpasses $17B. As an integrated partner, TMV has helped companies like Ridwell make it easier to reduce and recycle responsibly, Bravely design an application to connect people with on-demand professional coaches, and Parsley Health develop doctor-led holistic health care. Across two funds, TMV has amassed a portfolio of companies leveraging innovation of all kinds to ensure a better tomorrow.
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