Costanoa Ventures Closes Two Over-Subscribed Funds

PALO ALTO, Calif., Dec. 1, 2021 /PRNewswire/ -- Costanoa Ventures today announced the successful close of its two newest funds: Costanoa Fund IV, its $225m core, early-stage fund, and its $115m Opportunity Fund II, which invests in later rounds of Costanoa's early-stage winners. These latest funds bring the Firm's total commitments to date to over $900 million.

Boutique by design, Costanoa has been purpose-built to be the best venture firm for technical founders in its core sectors: enterprise, data infrastructure, and fintech. Costanoa intentionally brings diverse perspectives to its portfolio and supports its companies with a best-in-class operating platform that provides unparalleled go-to-market expertise for companies at their early stages.

"The Costanoa team is incredibly pleased to have raised these two funds during this unprecedented time. We so appreciate both our long-term investors, many of whom have been with us since the beginning, and the handful of great new investors who joined in our latest funds," stated Mark Selcow, Partner at Costanoa Ventures.

Over the last year, Costanoa Ventures has outperformed the industry average by focusing more on companies at the earliest stages, often at formation. Along with work in new emerging markets – such as Latin American and Africa -- it has broadened its fintech practice to include crypto and Web3-related companies. The Firm continued to build an internal team diverse in both views and composition. Women now make up 60% of the team and nearly 50% of its partners.

"Our success has been driven by a number of factors, including the diversity of perspectives and people around the table," noted Amy Cheetham, Costanoa's newest Partner. "It allowed us to expand where in the world we look for great companies and how to hire the best teams possible. The results speak for themselves."

Costanoa had two nine-figure exits for Roaster and Kenna this year. Its recent notable fundings include:

• Highnote, raised $54M to date to connect merchants to the world's most modern virtual payments platform.
• ForUsAll, an alternative 401(K) provider, enables companies to offer employees investments in crypto, environmentally and socially responsible funds, and other alternative assets.
• Plug Pagamentos just announced their seed round and enables simplified payments for ecommerce companies in Brazil and Latin America.
• Coiled, based on the open source Dask project, is creating an enterprise-ready data science platform.
• Aserto, incubated at Costanoa, is a modern authorization solution enabling developers to meet enterprise users' complex needs.
• Kevala – is an AI-based workforce platform for healthcare and long-term care facilities.

Costanoa is chosen to lead early stage rounds by accomplished founders, including:

"Costanoa understood the magnitude of the vision and immediately began providing help and support early on that has accelerated our growth.  They are uniquely set up to support fast-growing early stage companies and continue to be an invaluable partner to Highnote as we launch into the markets with momentum. - John MacIlwaine, CEO & Cofounder, Highnote.

"The payments industry is complex, especially in LatAm. My co-founders and I all agreed that the whole team at Costanoa showed depth of knowledge in the space, which made us feel comfortable as first-time founders." - Alex Vilhena, CEO & Cofounder, Plug Pagamentos.

"Costanoa is a phenomenal partner for founders who take a long term view on building enduring companies. They're engaged, thoughtful, and bring deep operating experience to the table."  Shannon Goggin, CEO & Cofounder, Noyo.

About Costanoa Ventures
Costanoa Ventures backs tenacious and thoughtful founders who change how business gets done. Costanoa invests in enterprise software at Seed and Series A with a focus on Applied AI, SaaS, FinTech, Security, DevOps, and Data infrastructure. Costanoa seeks to be a long-term partner to entrepreneurs building durable companies that leverage data to solve complex business problems. For more information, please visit www.costanoavc.com.

SOURCE Costanoa Ventures