Vine Ventures Closes Fund II

Vine Ventures has held a final and oversubscribed close of its second fund with $140 million of capital. With the close of Fund II, Vine now has total assets under management of $243 million.

Vine is an investor in US, Latin America, and Israel-based technology companies, typically investing from $1 million to $10 million in pre-seed through Series A equity. The New York City-based firm was founded in June 2020 by managing partners Eric Reiner and Dan Povitsky. Since its founding, Vine has led and participated in funding rounds for 23 companies and, according to Vine, it is now one of New York City’s largest seed-focused funds.
“Our mission is to identify founders and markets poised for massive outcomes, drive these leaders to success, and deliver top-tier returns to our investors,” said Mr. Reiner. “Vine’s team is composed of investors trained at some of the most successful firms including Insight Partners, TA Associates and Blackstone. We have adapted these firms’ best practices to bring unparalleled horsepower to early-stage investing so that the world’s best company builders can begin their journey with the right resources.”
Vine’s first fund was raised in June 2020 and through the end of 2021 has notched a net IRR of 251%. Of the 16 portfolio companies in Fund I, 13 have raised further funding from Accel, Coatue, Felicis, Founders Fund, General Catalyst, and Tiger Global.
Some of Vine’s Fund I companies include TUL, a Columbia-based e-commerce platform that sells construction materials to small-sized retailers (January 2022); Komodor, an Israeli-based provider of software used to monitor and troubleshoot Kubernetes (a container orchestration system for automating software deployment, scaling, and management) (May 2022); Habi, a Columbia-based data-driven residential real estate platform (May 2022); Parallel Learning, a New York-based telehealth platform serving students with learning differences (May 2022).

Recent investments in 2021 include OpenStore, a Shopify merchant aggregator (November 2021); Ennabl, a provider of SaaS tools and services used by insurance brokers (February 2022); and Modern Intelligence, a Texas-based provider of artificial intelligence used in the US defense industry (March 2022).
“With Fund II, we continue the important work of delivering the world’s best user experience to founders. Our team’s age and track record of refining business models sets us apart from the typical seed venture capital firm,” said Mr. Povitsky. We approach founders from a place of mutuality and seek to build a shared understanding through rapid and comprehensive work. This has enabled us to take big bets on generational companies long before other investors arrive.”
Jennifer Bellah-Maguire and Crystal Becker of Gibson Dunn provided fund formation counsel to Vine Ventures. Imri Eisner of DLA Piper is Vine’s primary transaction counsel.
© 2022 Venture Capital Investor | June 23, 2022