Icon Ventures taps Rathi as fifth GP

Icon Ventures, a Series B and C investor, announced that Preeti Rathi has joined the firm as a general partner. She was with Ignition Partners, where she focused on B2B software investments.

Preeti Rathi, an enterprise software investor with a background in machine learning and artificial intelligence, has joined Icon Ventures as a general partner.

She began her stint at Icon Ventures the week of January 6. The firm has offices in Palo Alto and San Francisco.

She becomes the fifth GP at the firm, joining Joe Horowitz, Tom Mawhinney, Jeb Miller and Michael Mullany. Icon Ventures, which makes Series B and C investments, announced in late 2018 it expanded its sixth fund to $375 million.

Rathi was previously a partner with Ignition Partners, which she joined in 2016 as a principal. Prior to that, she was with Opus Capital. Before she began her investment career, Rathi was with Juniper Networks and Cisco.

Her past investments that she is credited with include Tractable, CrowdAI, Auxon, Vectra and Turi. Apple acquired the machine learning and artificial company Turi in 2016 for a reported $200 million.

Rathi told Venture Capital Journal that she has focused on enterprise software since she got into investing in 2013. She says all her deals AI-related.

“AI is broad and is applied to everything,” she says. “But this is an exciting time, and we’re seeing AI applied to everything, including a number of traditional industries. This is something that excites me.”