Romulus Capital Launches Third Fund
Next-Generation VC Firm Now Largest Firm Run by Partners Under Age 30
BOSTON, June 1, 2016 /PRNewswire/ -- Romulus Capital, a seed-stage venture capital fund focused on investing and building technology businesses, today announced it has launched its third fund with over $75 million in commitments. Backed by investors in 15 countries, including 3 royal families, Asia's largest conglomerates, and individuals with strong ties to the Massachusetts Institute of Technology (MIT), Romulus has grown more than 200 percent in four years with $150 million in assets under management.
Romulus is the largest independent venture capital firm in the world managed solely by partners under the age of 30 years old – in fact, Founder Krishna K. Gupta founded the company from his MIT dorm room as an undergraduate a few years ago.
"We understand entrepreneurs, because we are entrepreneurs (and not just former entrepreneurs), which means we bring a passion and ingenuity for building great companies, since we are in the trenches building our company at the same time," said Gupta. "We have a proven track record for successfully launching technology-driven companies and offer a powerful alternative over traditional funds with traditional thinking."
The Romulus DNA is based on "building rather than betting on" companies, which is a core reason for the firm's early success. Romulus has supported technology-enabled industry leaders in a variety of conventional verticals, including real estate, healthcare, hospitality, construction, and automotive, and it also has a deep interest in research-based companies, as it has backed several machine learning and artificial intelligence spinouts from the MIT Media Lab.
The Romulus portfolio is thriving – one-third of the portfolio companies from Romulus' first fund will have greater than $15M in revenue this year, including Placester, a software platform that enables real estate professionals to collaborate and grow their businesses online. Placester has raised over $50 million in just over a year and credits its relationship with Romulus as key to its early success.
"Romulus just gets it – and they get us," said Matt Barba, CEO of Placester. "They invested in us in our earliest days and their ongoing and unwavering support has been paramount to our rapid growth. Because of that, we've quickly become one of the most exciting technology companies in the real estate industry."
With this fund, Romulus will continue partnering with companies that are leveraging new technologies to solve problems for corporations around the world. Romulus is led by Gupta and Neil Chheda, who were both named to the Forbes 30 Under 30 List.
About Romulus Capital
Romulus Capital is a seed- and early-stage venture capital firm focused on building, rather than betting on, the next big technology and science-enabled companies. The firm partners with entrepreneurs looking to become industry leaders and works with them to build world-class teams, win major customers, iterate on product, and think strategically about building a strong foundation. The firm was founded out of MIT in 2008 and manages about $150M. More information is available at http://www.romuluscap.com.
SOURCE Romulus Capital
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