Collab Capital announced today the close of a $75 million Fund II.
Jewel Burks Solomon, who rose to prominence in Silicon Valley during her years running Google for Startups US, has just closed her second fund for her VC firm Collab Capital.
Fund II is $75 million and includes heavyweight limited partners like Apple, Goldman Sachs Asset Management, and Leon Levine Foundation.
Solomon co-founded the firm in 2020 with an inaugural $50 million Fund I and invested in 38 companies, including the waste management platform Goodr and Culina Health.
Fund II will continue to back early-stage companies — seed and Series A — building in the future of work, healthcare, and infrastructure.
She said this latest fund will let Collab Capital “double down” on its mission of supporting promising founders tackling big, systemic problems.”
“What’s next is deeper conviction, bigger bets, and continued proof that shared prosperity is scalable and can generate competitive returns,” Solomon told TechCrunch.
The Fund will cut checks ranging between $1 and $2 million to at least 30 companies across the next five years. It has already invested in six companies, while 40 percent of the fund is reserved for follow-on investments.
Solomon said raising this second fund was incredibly hard and it took her and her team nearly two years.
”We were navigating a tough macro climate and shifting LP priorities,” she said. “But we stayed committed to our vision and built strong relationships with LPs who see both the urgency and the opportunity in what we’re doing.”
The announcement of Collab Capital’s Fund II comes as Black-led and founded funds continue closing sizable funds. Just last month, Zeal Capital Partners announced the close of an $82 million Fund II. Earlier this year saw Sydney Thomas’ Symphonic Capital raised a $13.5 million inaugural fund, while Cherryrock Capital, founded by Stacy Brown-Philpot, announced a $172 million Fund I. Late last year, Slauson & Co. announced a $100 million Fund II.
