Moxxie Ventures, led by ex-Twitter media head, raises $95M third fund

Moxxie Ventures, founded by Katie Jacobs Stanton, a former head of media at Twitter, has successfully raised $95 million for its third fund, exceeding its initial goal of $85 million. Despite the challenging fundraising landscape for emerging managers, Stanton reported a smoother process than anticipated. Since its establishment in 2019, Moxxie has focused on investing in pre-seed and seed-stage startups. During the fundraising phase, Stanton and general partner Alex Roetter, a former SVP of engineering at Twitter, informed their limited partners that they would not start deploying capital until 2025. Nonetheless, they attracted interest from various backers, including Cendana Capital, Accolade Partners, and several universities, all eager to support the firm. Michael Kim, founder of Cendana, highlighted Stanton's extensive network among seed-stage investors as a key asset. Stanton expressed her satisfaction with the fundraising timeline, emphasizing that the outcome was more favorable than expected, though she acknowledged the unpredictability of such endeavors. Although Moxxie Ventures has yet to achieve significant exits, Stanton’s previous track record with the investment collective #Angels showcases her capability, having backed companies such as Carta, Coinbase, and Airtable. Among Moxxie’s portfolio, Stanton noted companies like Certn, which raised $80 million in a Series B last year, and Spellbook, an AI co-pilot for legal drafting that secured a $20 million Series A. Moxxie, whose name reflects courage and female empowerment, has a commitment to investing in underrepresented founders. Currently, approximately one-third of its portfolio companies are led by women, while around half are founded by individuals from Black, Indigenous, and People of Color (BIPOC) backgrounds. While the firm identifies as a generalist investor, it shows a preference for sectors like health tech, climate tech, SaaS, and AI. Recently, it has made investments in robotics startups, including Jacobi Robotics, known for its AI-powered motion-planning technology. With a median investment size of $1.5 million, Moxxie aims to acquire about 10% equity in each startup at the time of investment. Stanton, who previously served in the Obama administration, has also been vocal regarding political issues, including the upcoming 2024 presidential election. She believes that increased political transparency among investors can aid founders in selecting backers who not only provide capital but also align with their values.