Today, we are excited to announce our third institutional fund—a $125 million fund to support the next wave of enterprise startups serving the public and private sectors. Our latest fund brings us to an AUM (assets under management) of $300 million. As an enterprise Seed and Series A-focused venture capital firm, this drives forward our investments in AI, deep tech, cyber security, enterprise infrastructure, and more.
This news is a culmination of years of grit and heart. I am a two-time Olympic Medalist and American record holder turned U.S. Navy SEAL turned Venture Capitalist. When moving into the VC world, I was fortunate enough to learn from heavyweights like Andreessen Horowitz and Lightspeed Venture Partners—both of whom were the first to invest in our inaugural fund years ago. Through my background and the firm’s backing, I knew that Harpoon would embody the intangible attributes of my past ventures—unrelenting work ethic, discipline, focus, risk management, and determination. This mentality is our core driver and what sets us apart from other firms.
We’ve already seen this come to life as an early backer of breakout companies like Astranis, Solugen, Genesis Therapeutics, Robust Intelligence, Vantage, Semgrep, and Material Security. Being an active teammate is an overused VC buzzword, but we thrive working in the trenches with our founders. It’s how we stay close to shifting trends and bring value to our portfolio. There’s no sidestepping the hard work and even before partnering with a company, we gladly put in countless hours to uncover market intelligence, manage risk, and evaluate business strategies. We’ve also made it a point to minimize lip service and maximize results. To date, we’ve helped our companies win around $500 million in new customer deals from Fortune 500 and government customers. We’ve also actively helped to syndicate nearly $1 billion in follow-on financings for our portfolio.
Economic uncertainty can foster innovation, and our latest raise underscores Harpoon’s unwavering commitment to funding the next stage of groundbreaking technology. While investing may seem simpler during periods of economic prosperity, it’s during challenging times that companies with compelling solutions and durable capital partners emerge as frontrunners. The American entrepreneurial spirit cannot be stifled and we are entering a new digital age–one of artificial intelligence and integrated systems.
Harpoon is better positioned than ever to partner with visionary founders and provide superior returns to our limited partners.
We’re looking forward to the next generation of Harpoon and the next generation of technology that is going to positively change the fabric of the world.