Inspired Capital, a firm founded by Alexa von Tobel and Penny Pritzker, has just closed its fourth fund with $450 million, bringing its total assets under management to nearly $1.4 billion. This highlights a trend where venture capital is no longer solely concentrated in the West Coast, with the Bay Area locking down a significant portion of the market.
Despite the West Coast’s dominance, New York-based Inspired Capital continues to grow, with its third fund reaching $330 million, following earlier funds of $281 million and $200 million. The firm’s investment strategy is to back around 10 companies per year, ranging from early-stage to Series A, with investments between $1 million and $15 million.
Von Tobel, with six years of investing experience, highlights that 12 companies from the firm’s first two funds have become unicorns, accounting for about 15% of the portfolio. Additionally, the firm has more than 10 exits, with notable acquisitions including MosaicML, DeepTune, and Saturn. TeamShares, a fintech startup, went public through a special purpose acquisition vehicle.
Inspired Capital is not solely focused on New York, with its portfolio split roughly 45% East Coast, 45% West Coast and 10% elsewhere. This reflects the firm’s belief that a company’s growth often necessitates a second talent base, with New York playing a crucial role. However, for some founders, New York is the only choice, due to the high job-hopping rate in San Francisco.
Reflecting on the firm’s strategy, von Tobel emphasizes the importance of patience and the ability to combine the ambition of the West Coast with the financial discipline of the East Coast.







