One Way Ventures Closes $32M Fund for Immigrant Founders
One Way Ventures, a venture capital company specializing in investments in companies led by immigrant founders, has successfully completed fundraising for its second fund, totaling $57.5 million. This achievement follows the launch of their initial $28 million fund three years prior.
With this expanded fund, One Way Ventures will increase its typical investment amount from $500,000 to $1 million, enabling the firm to take a leading role in more seed-stage funding rounds. Founding partner Semyon Dukach notes that this larger fund size is a natural progression following the full deployment of their first fund and reflects the continued growth and competitiveness within the seed investment landscape.
One Way Ventures distinguishes itself as one of the few venture capital firms specifically focused on supporting immigrant founders. Unshackled Ventures is another firm dedicated to backing immigrants and assisting with their residency, having closed a $20 million fund in 2019.
Dukach emphasizes that the firm’s dedication to immigrant founders provides a significant advantage when evaluating potential investments. One Way fosters a strong community among its portfolio companies, offering a shared understanding of the challenges and adaptations involved in establishing themselves in a new country, culture, and business environment. Despite limitations on in-person gatherings due to COVID-19, the firm is actively developing virtual headquarters and events to connect its companies.
Dukach stated that this sense of community and shared experience is often “the key reason we are included in investment rounds.”
“We consistently gain access to competitive deals because we are viewed as a valuable partner, offering support beyond just capital – providing a sense of belonging and a supportive network.”
One Way Ventures’ current portfolio includes companies like Brex, Classtag and Chipper. Of the firm’s 48 portfolio companies, 46 have at least one immigrant co-founder. The firm invests broadly across sectors, with a strong presence in machine learning, financial technology, and educational technology.
According to Dukach, the political climate and policies during the Trump administration had a minor impact on the firm. To mitigate potential risks, One Way maintains a venture partner based in Montreal, Philippe Kalaf, to address possible policy changes.
Despite the challenges of a pandemic and a presidential election year, One Way Ventures ultimately raised nearly double its initial fundraising target, contributing to the substantial flow of capital within the venture capital market this year.
“Some limited partners delayed their commitments until after the election,” Dukach explained. “They felt more secure in investing following the outcome of the election.”
As One Way Ventures secures additional funding, the firm is expanding its team. They have extended their presence from Boston to San Francisco with the addition of Eugene Malobrodsky, a co-founder of a consumer privacy startup, as a partner.
Like many firms in the venture capital industry, One Way Ventures is working to improve diversity among its leadership. Currently, all partners at One Way are men. The firm intends to appoint Nadia Asoyan, a former executive at Robinhood and currently at Trusted Health, as a venture partner – a role that requires approval from a general partner for investment decisions. Annie Patyk serves as a platform associate within the team.
Looking at its portfolio, One Way Ventures has invested in 10 companies founded or co-founded by women, out of a total of 50 companies. The portfolio also includes 19 companies with minority co-founders and seven companies with Black or Latinx founders.
Dukach describes the ideal founder as someone who embodies the spirit of the firm’s name.
“We seek individuals who have taken a leap of faith, committing to a new path without a guaranteed outcome, navigating unfamiliar languages, cultures, and networks,” Dukach said. “This experience demonstrates resilience and adaptability, qualities that we believe are strong indicators of future success and the ability to disrupt established industries.”
