Superset aims high with sophomore flagship fund

The San Francisco-based accelerator plans to more than double its AUM with a second flagship vehicle targeting $100m.

Incubator and accelerator Superset has begun fundraising for its second flagship fund with a target of $100 million, according to a recent regulatory filing.

The San Francisco-based firm raised $65 million for its debut fund in 2019 and $30 million for an opportunity fund in early 2022. Superset identifies pre-revenue data-driven software companies and works with founders to prepare them for later VC investment.

Superset does not disclose the names of its LPs.

The firm was co-founded in 2018 by Tom Chavez and Vivek Vaidya, who previously co-founded Krux, a marketing technology platform acquired by Salesforce in 2016.

In an interview last December, Superset marketing lead Nick Kessler told Venture Capital Journal: “Where traditional venture firms are asset-investing companies, we’re a creator of those assets, the source of the dealflow for VCs to invest in down the line. Everyone we’re hiring is an operator. We’re trying to give people an opportunity to maximize their impact, maximize their wealth and minimize the risk in the process.”

VCJ previously reported that former Salesforce executive Jon Suarez-Davis had joined the firm in December 2022 as chief commercial officer, a role he designed. Suarez-Davis said he focuses on identifying new markets for the firm’s portfolio companies to engage with. He also pointed to the fact that recent waves of layoffs in the tech industry have pushed crowds of “incredibly talented people” out of their roles and that many are now looking for new opportunities, a situation Superset believes it can capitalize on.