todd and rahul’s angel fund closes new $24 million fund

A New Venture for Vohra and Goldberg

Rahul Vohra, CEO of Superhuman, and Todd Goldberg, founder of Eventjoy, are collaborating once more. They have launched a new $24 million fund, demonstrating significant ambition within the currently thriving venture capital landscape.

Initial Success and Accelerated Growth

Their initial fund, “Todd and Rahul’s Angel Fund,” totaling $7.3 million, was announced shortly before the onset of the pandemic. They quickly found themselves with a surplus of investment opportunities exceeding their available capital.

Subsequently, they secured an additional $3.5 million through a rolling fund. This was specifically designed to facilitate investments in companies beyond the seed and Series A stages.

Adapting to a Changing Market

“The situation shifted dramatically following the onset of COVID-19,” Goldberg explained to TechCrunch. “Many of the companies we had invested in began seeking further funding rounds.”

Vohra and Goldberg intend to maintain a broad investment strategy with their latest fund. They plan to allocate 75% to early-stage ventures and reserve the remaining 25% of the $24 million for later-stage opportunities.

Despite the potential to raise a larger fund, the partners opted for a more focused approach.

“While many of our contemporaries were expanding into larger funds,” Vohra stated, “we prioritized remaining agile and collaborative.”

Notable Investments

The firm’s initial investments include prominent companies such as Dapper Labs, the creator of NBA Top Shot, Supabase, an open-source Firebase alternative, and Haus, a direct-to-consumer liquor brand.

Other portfolio companies include Alt, an alternative asset platform, Levels, a biowearable technology developer, and Placer, a location analytics startup.

A particularly successful investment was made in the audio chat application Clubhouse prior to Andreessen Horowitz’s leading seed round, which valued the company at $100 million. Clubhouse’s valuation has since risen to $4 billion.

Honing Their Investment Strategy

The partners emphasize the lessons learned from navigating increasingly competitive investment rounds. This experience has refined their approach to attracting founders.

“We strive to be more than just a passive investor,” Goldberg asserts. “Our focus is on three key areas: assisting companies in achieving product/market fit, accelerating their distribution strategies, and connecting them with the most suitable investors.”

The Value of Operator Experience

A significant aspect of the firm’s appeal lies in the operational experience of its founders.

Goldberg’s Eventjoy was acquired by Ticketmaster, and Vohra’s Rapportive was purchased by LinkedIn. Vohra’s current venture, Superhuman, continues to generate excitement with its premium email service and has secured $33 million in funding from investors like Andreessen Horowitz and First Round Capital.

A Unique Limited Partner Base

The new fund boasts an unusual base of Limited Partners (LPs), comprising over 110 entrepreneurs and investors.

Notably, 40 of these LPs are founders who have previously received backing from Vohra and Goldberg.

Key backers of the second fund include William Hockey of Plaid, Scott Belsky of Behance, Helena Price Hambrecht of Haus, Jack Altman of Lattice, and Shahed Khan of Loom.