New VC firm Chemistry raised $350 million for its debut fund, Forbes reported on Wednesday.
The firm was launched by Mark Goldberg, former partner at Index Ventures; Kristina Shen, former general partner at Andreessen Horowitz; and Ethan Kurzweil, former partner at Bessemer (pictured above in that order). Axios first reported in April that the three were looking to launch a fund together.
Chemistry’s debut fund was 2x oversubscribed, a source familiar with the matter told TechCrunch.
The firm will invest in early-stage startups mainly at the Series A stage, but also seed, across categories including fintech, infrastructure, and developer tools and work software. Each partner plans to invest in two to three deals a year.
“All three of us will actively support each investment,” the firm’s blog post read. “We are the portfolio services team, working in the trenches with our founders.”
In previous roles, the partners have backed notable companies, including LaunchDarkly, Plaid, and Twitch, among others.
