Key Takeaways
- • Nichole Wischoff closed Wischoff Ventures Fund II at $20 million, focused on pre-seed and seed-stage investments in "unsexy businesses" with backing from Peter Thiel and other limited partners.
- • The fund represents a successful capital raise in a contracting venture market during 2022, when overall startup investment declined significantly across the industry.
- • Wischoff Ventures targets non-traditional, overlooked sectors with ticket sizes up to $1 million per investment, distinguishing itself from mainstream venture capital focused on high-growth technology sectors.
- • Wischoff's fundraising trajectory shows acceleration: she raised her first $5 million fund during the 2021 liquidity boom, then successfully closed a $20 million second fund despite a much tighter 2022 fundraising environment.
Summary
Nichole Wischoff, operating as a solo general partner, has successfully closed Wischoff Ventures Fund II at $20 million, securing backing from venture capitalist Peter Thiel and other institutional limited partners. The fund closes during a notable period of market contraction—2022 saw significant shrinkage in venture capital deployment across the industry—making the raise a counterintuitive achievement for an emerging manager.
Fund II is explicitly dedicated to pre-seed and seed-stage companies led by what Wischoff describes as "relentless entrepreneurs." The fund's stated investment philosophy targets "unsexy businesses"—sectors typically overlooked by mainstream venture capital. Investment check sizes reach up to $1 million per company, positioning the fund to be meaningful capital for early-stage founders while remaining appropriately sized for pre-seed and seed rounds.
Wischoff's track record demonstrates rapid scaling within a compressed timeframe. Her first fund closed at $5 million during 2021's peak liquidity environment, when capital was abundant. The progression to a $20 million second fund in 2022—a year characterized by venture market retrenchment, rising interest rates, and significantly reduced startup valuations—reflects both investor confidence in her strategy and her ability to execute during adverse market conditions. The successful close of Fund II underscores that despite macroeconomic headwinds and reduced venture investment activity, specialized capital sources with differentiated investment theses continue to attract limited partner commitments.
Fund II is explicitly dedicated to pre-seed and seed-stage companies led by what Wischoff describes as "relentless entrepreneurs." The fund's stated investment philosophy targets "unsexy businesses"—sectors typically overlooked by mainstream venture capital. Investment check sizes reach up to $1 million per company, positioning the fund to be meaningful capital for early-stage founders while remaining appropriately sized for pre-seed and seed rounds.
Wischoff's track record demonstrates rapid scaling within a compressed timeframe. Her first fund closed at $5 million during 2021's peak liquidity environment, when capital was abundant. The progression to a $20 million second fund in 2022—a year characterized by venture market retrenchment, rising interest rates, and significantly reduced startup valuations—reflects both investor confidence in her strategy and her ability to execute during adverse market conditions. The successful close of Fund II underscores that despite macroeconomic headwinds and reduced venture investment activity, specialized capital sources with differentiated investment theses continue to attract limited partner commitments.
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