New York-based early-stage focused VC firm Tribeca Venture Partners launched a $200M second growth fund.
The new fund will follow the investment strategy of its predecessor Access fund, writing smaller checks in equity recapitalization situations and down rounds.
Tribeca wrote individual checks worth $5M to $15M through the first Access fund, which closed at $45M in 2018, without taking a board seat.
- The first fund backed seven startups, including invoicing and payments startup HoneyBook, last valued at $2.45B in 2021.
- Access Fund I achieved an internal rate of return (IRR) of 55%, making it one of the top-performing funds with the vintage year 2018.
- With the new fund, the firm intends to back startups throughout the U.S. with at least $20M in annual revenue.
