Glasswing Ventures takes flight with $158m for sophomore fund

Glasswing Ventures, a majority women-owned VC firm, has raised $158 million for its second fund. It did not disclose the names of its investors.

Glasswing was founded in 2016 by Rudina Seseri and Rick Grinnell, who are both managing partners. The Boston-based firm focuses on early-stage investments in artificial intelligence and frontier technology start-ups.

“We are open for business and are thrilled to back extraordinary and diverse founders who build world-changing and enduring companies,” Seseri said in a statement. “We see a tremendous untapped opportunity for enterprise and security applications and infrastructure across sectors and we will continue to focus on partnering with future market leaders.”

As part of its commitment to its early-stage focus, Glasswing was the first investor in 80 percent of the companies in its portfolio and the first institutional investor in all of its portfolio companies, the firm said.

Glasswing noted that its “DEI metrics far exceed VC industry standards, and the firm continues to lead by example by enabling further representation and inclusivity within its portfolio.” For example, more than 90 percent of its portfolio companies have at least one woman or BIPOC C-level executive, and 47 percent of all portfolio company employees are women or BIPOC, the firm said.