Essence VC has raised its third fund of $27 million from LPs like Cendana and Sapphire Ventures.
The fund has bet on buzzy startups like generative AI darling Jasper and a16z-backed Motherduck.
And now, his firm Essence VC has just raised its $27 million third fund.
The latest fund, backed by VC firms and funds of funds including Cendana Capital, Vintage Investment Partners, Sapphire Ventures, Level Ventures, and Crossover, follows a $7 million and $1 million fund.
However, the "first-mover advantage" for startups also holds true in the land of VC, Chen says.
Persons:
Jasper, Tim Chen, you've, Liz O'Sullivan, Vera, Chen, Scott Shi, —, Chi Zhang, Tim, Zhang, funder Chen, Christos Kozyrakis, Michael Huang, They're, it's, Ben Van Roo, Van Roo, Chen wasn't
Organizations:
Sapphire Ventures, Cendana, Vintage Investment Partners, Level Ventures, Founders, Stanford, Cloudera, Google
Locations:
a16z