In Raging Bear Market Tenacity Raises Oversubscribed Fund In Record Time

Ben Narasin raises oversubscribed $50 Million fund after spinning out of NEA

SAN FRANCISCO, July 5, 2022 /PRNewswire/ -- Ben Narasin expected a 1-2 year process to raise his first fund, then he raised half in 25 days, and the remainder in a quarter. "I'm told that may be a new record," says Narasin, "but a 15 year track record helped." 

Scott Sandell, Managing General Partner at NEA, who sits on Tenacity's advisory board, says "Ben's judgment, integrity and unwavering dedication to working with founders at the earliest stages—all constants in the more than 15 years I've worked with him—will be tremendous assets to the entrepreneurs he supports in the future. We're pleased to congratulate Ben on his rapid fund raise." Tenacity Venture Capital (Tenacity) invests $1-$3 million into pre-Series A rounds with a focus on helping coordinate Series A rounds. "I know over 300 VCs at the top 15 firms, and have 36 VCs as LPs," says Narasin, "so getting founders to the right people at the right time for their A is my primary focus."                             

Tenacity added Taylor Oliver as a Venture Partner and re-opened the fund to the oversubscribed demand. "It made sense to add a bit more capital with the expanded team. Adding Taylor is the ultimate 1+1 = 3." The firm sees 4000 to 5000 pitches a year and funds 12 to 15.   

Tenacity's final close was May 5, and the firm has already seen 2 Series As within its portfolio of seed investments: Current Foods, and Arkestro. Additional portfolio companies include Product Wind, Vendelux, Savvly, Manufactured, Branch Metrics, GSM, CoFi, Tradeteq, Kapital, CRS Group, and Thena.ai.          

Learn more at [email protected] or https://www.linkedin.com/company/tenacity-ventures/ 
Founder's can pitch at www.pitch-ben.com.  

About Tenacity: $60 Million Seed Fund. Advisory Board:, Scott Sandell, Managing General Partner of NEA and Jeff Immelt, Former CEO of GE.

About Ben Narasin: 25 year entrepreneur. Founded and IPO'd fashionmall.com. 15 year venture investor with Investments including Lending Club, Dropcam, Kabbage, Vungle, Divvy Pay, Chorus, Branch Metrics, Transfix, Mashgin, and Rippling.

About Taylor Oliver: After launching Plug and Play's $25.5 million supply chain fund Taylor joined Tenacity and became one of the first VCs to close two separate first-time funds in less than a year.

Images:Link

Media Contact - Taylor Oliver,  [email protected]

SOURCE Tenacity Venture Capital