Key Takeaways
- • Marin Sonoma Impact Ventures closed its second venture fund (Fund II) at more than $11 million, lifting the Corte Madera-based firm's total assets under management above $17.7 million.
- • Fund II drew commitments from 60 limited partners, with 98% of capital coming from Marin and Sonoma residents or institutions.
- • Redwood Credit Union Community Fund committed $1 million to Fund II, one of the largest single contributions to the vehicle.
- • MSIV has deployed more than $8.665 million across 22 Marin and Sonoma startups over both funds; Fund I is fully deployed across 13 investments and Fund II has completed nine.
- • The firm's model centers on keeping investment capital and the jobs it creates within the North Bay, and MSIV was founded by managing partner Zachary Kushel.
Summary
Marin Sonoma Impact Ventures (MSIV) announced the final closing of its second venture capital fund on a Thursday, raising more than $11 million. According to a release distributed via PR Newswire, the closing pushes the Corte Madera-based firm's total assets under management above $17.7 million. The fund attracted 60 limited partners, and 98% of its capital comes from Marin and Sonoma residents or institutions, a hyper-local structure that has defined the firm since its founding. The Redwood Credit Union Community Fund made a $1 million commitment, one of the larger single contributions to Fund II.
MSIV, led by founder and managing partner Zachary Kushel, was built on the premise of keeping investment dollars and the jobs they create close to home. The Press Democrat describes the firm as the first regional venture capital firm focused on Marin and Sonoma County startups. Its first fund closed at $6.6 million in December 2022 with support from 62 investors, according to FinSMEs, and was aimed at early-stage companies planning to grow and create jobs locally. Fund I opened to investors in March 2021.
Across both funds, MSIV says it has deployed more than $8.665 million into 22 Marin and Sonoma companies. Fund I is fully deployed across 13 investments, and Fund II has completed nine. The fund's own release names six Fund II portfolio companies: Gable, Lighthouse Pharmaceuticals, Lumo, OLarry, Skribe Medical and Your360 AI. MSIV has not disclosed individual investment amounts for these companies and has not identified the remaining three companies in its nine-investment Fund II portfolio.
MSIV, led by founder and managing partner Zachary Kushel, was built on the premise of keeping investment dollars and the jobs they create close to home. The Press Democrat describes the firm as the first regional venture capital firm focused on Marin and Sonoma County startups. Its first fund closed at $6.6 million in December 2022 with support from 62 investors, according to FinSMEs, and was aimed at early-stage companies planning to grow and create jobs locally. Fund I opened to investors in March 2021.
Across both funds, MSIV says it has deployed more than $8.665 million into 22 Marin and Sonoma companies. Fund I is fully deployed across 13 investments, and Fund II has completed nine. The fund's own release names six Fund II portfolio companies: Gable, Lighthouse Pharmaceuticals, Lumo, OLarry, Skribe Medical and Your360 AI. MSIV has not disclosed individual investment amounts for these companies and has not identified the remaining three companies in its nine-investment Fund II portfolio.
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