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M13 raises $175 mln for sophomore fund

M13 has closed its second fund at $175 million. The fund will invest in emerging consumer tech companies.

PRESS RELEASE

LOS ANGELES, Oct. 15, 2019 /PRNewswire/ — M13, a venture engine built by and for entrepreneurs, is pleased to announce the close of its $175M fund. Oversubscribed with an original target of $150M, M13’s Fund II will prioritize Seed and Series A with select Series B+ rounds in emerging consumer technology companies.

M13 is evolving the traditional venture model by supporting entrepreneurs with both funding and operational expertise. Founded in 2016 with offices in Los Angeles, New York and San Francisco, M13 executes a “founders first” approach with a team of experienced operators to help build and scale consumer technology companies.

“As former founders and operators, all of us at M13 have the experience and empathy to support our founding teams throughout their entire journey,” said M13 co-founder and partner Carter Reum. “M13 has already demonstrated success in deploying our investors’ capital into what are now household names, and we look forward to continuing our investment strategy with Fund II. Fund II will allow M13 to take meaningful ownership stakes in compelling companies and grow them in future rounds.”

With more than 80 direct investments and 16 exits, M13’s prior investments total over $137B in enterprise value and includes Lyft, Pinterest, Ring, Daily Harvest, FabFitFun, Rothy’s and others. Fund II will build on M13’s expertise in consumer behavior and the intersection of emerging technology and key sectors such as health, transportation, food, housing and personal finance. Recent investments include Capsule, Coinmine, Doorstead, Emerge and Tarform.

“M13’s goal is to capture how consumer behavior will change over the next decade and invest into that change with both our capital as well as hands-on support and expertise relevant to our founders,” said M13 General Partner Latif Peracha.

M13 investor and Virgin Group founder Sir Richard Branson said, “I’m glad to be an investor in M13. I have followed co-founders Carter and Courtney Reum for many years. Now they have added General Partner Latif Peracha, who worked on Virgin’s US companies and looked after my US venture investments for the last seven years. M13 already has a strong track record in consumer tech and made its strength guiding entrepreneurs in a practical way. I’m excited to see how their portfolio grows.”

About M13
M13 is a venture engine whose founding teams access the necessary capital, expertise and resources to build and scale consumer technology companies. Founded in 2016 with offices in Los Angeles, New York and San Francisco, M13’s portfolio includes Lyft, Pinterest, Ring, Daily Harvest, FabFitFun, Rothy’s and others. Through Fund II, M13 will expand its focus to emerging technologies driving change in consumer behavior over the next decade. With more than 80 direct investments and 16 exits, M13’s portfolio totals over $137B in enterprise value. For more information on M13, please visit www.m13.co.