Ashton Kutcher's Sound Ventures Aims for $150M Third Fund

Sound Ventures, a venture capital fund established by Ashton Kutcher and Guy Oseary, has submitted documents outlining its intention to secure $150 million for a third investment fund. It is worth noting that the company filed for an equivalent total amount in 2018 when establishing its second fund.

Representatives from the firm were not immediately available to provide a statement regarding their plans for a new fund. Sound Ventures was initially created to make larger investments in companies at more advanced stages, or to consider opportunities regardless of a company’s stage of development. Despite the public profile of Kutcher and his significant investments, the firm has maintained a relatively low public presence recently.

The firm’s website details a fund specifically focused on “the upcoming wave of environmentally friendly, circular economy, and sustainable businesses,” known as SOUNDWaves. It remains uncertain whether the current filing pertains to SOUNDWaves, Sound Ventures’ primary fund, or if these two have been integrated into a revised strategy for the firm.

During the 2018 TechCrunch Disrupt conference, Kutcher expressed a preference for scooters over automobiles. He commented on the excessive number of cars, stating, “Cars are parked everywhere! It’s absurd! They obstruct traffic and hinder movement.” Sound Ventures previously invested in Bird, a company currently exploring a public offering through a SPAC merger.

Further positive news for the firm’s portfolio arrived this year with Root, a car insurance provider based in Ohio, successfully completing its initial public offering and receiving a favorable market response.

In addition to micro-mobility and insurance, Sound Ventures is actively seeking investment prospects within the fintech, enterprise, govtech, and medtech infrastructure sectors. The firm’s investment portfolio includes companies such as Robinhood and Gusto.

This new fund filing coincides with continued expansion of the Sound Ventures team. In 2017, Effie Epstein, formerly the head of global strategy at Marsh, joined the firm as managing partner and COO. Epstein’s appointment signaled Sound Ventures’ ambition to broaden its investment scope beyond solely consumer-focused companies. Additional team members include growth investor Susan Su, previously leading growth marketing at Stripe, and Katherine Keating, the firm’s chief sustainability and strategy officer, who has experience with both VICE Media and Maverick Management.