Overwater Ventures raises $20M debut VC fund
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Overwater Ventures, started by a veteran from Andreessen Horowitz, announced it raised $20 million for its debut venture capital fund yesterday.
Based on last night’s report from Pitchbook and the National Venture Capital Association, this was actually an anomaly. In the midst of the economic downturn, limited partners are putting less money into venture capital funds. It’s also an anomaly in that this first fund was started by a woman, Kristina Simmons, who previously worked at A16z and Khosla Ventures. Women founders are rare in tech, and even more rare in the venture capital industry.
Her focus as the sole general partner of the new fund will be to support founders commercializing science and technology for human and planet health. She has already made 10 investments from the fund.
Simmons was a former partner at Andreessen Horowitz (a16z) and former chief of staff and investor at Khosla Ventures. Overwater Ventures is making strategic investments in early-stage companies pushing the boundaries of biology, healthcare, AI, robotics, climate tech and the future of food.
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“We’re all about helping founders to turn breakthrough technology and science into brands that people love and help them to scale their businesses,” she said. “I plan to build a firm that the next generation of entrepreneurs want to take capital from.”
It’s not the greatest time to be asking for money, whether you’re a startup entrepreneur or a VC.
“Across the
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