Day One Ventures, established in Silicon Valley in 2018, operates as both a venture capital firm and an investment resource that also manages marketing and communications for the companies it supports. After two years of operation and multiple startup investments, Day One has officially registered a new $52.5 million fund with the SEC.

This latest fund mirrors its predecessor, providing funding from the pre-seed through seed stages, and occasionally participating in Series A rounds, with investment amounts ranging from $100,000 to $5 million.

The fund was created and is led by Masha Drokova, a Russian immigrant who previously worked as a public relations professional and angel investor. She notably left a career in Russian politics and journalism to pursue these ventures in the United States.

Drokova explains that the fund prioritizes companies embodying the “day one” philosophy, a concept defined by Jeff Bezos as prioritizing “customer obsession” within their core values.

The fund’s capital was secured during the pandemic through virtual meetings, with $45 million coming from limited partners who invested in the initial fund. Over 30% of the fund’s investments are directed towards companies founded by people of color, it includes 25 companies led by female founders, and 33% of the capital supports high-growth “impact” businesses. Day One has often collaborated on investments with firms like Andreessen, Index Ventures, Founders Fund and Lightspeed.

To date, the fund has seen three successful exits: Lvl5, Acquired and Feastly, and has also invested in Remote.com (alongside Index and Sequoia).

Notable companies currently in its portfolio include:

• DoNotPay: Founded by Joshua Browder from the UK, this company developed a chatbot that automates tasks like paying parking tickets, canceling subscriptions, and processing refunds. It recently secured a $15 million Series A funding round led by Coatue and Andreessen.
• Superhuman: An email client utilizing artificial intelligence, created by Rahul Vohra from the UK, which has raised $35 million in a Series B round from Andreessen.
• Truebill: A mobile application focused on personal finance and savings.

The fund reports that its portfolio companies have collectively raised $825 million in funding. Over 25% of its capital is allocated to fintech companies, more than 30% to startups leveraging artificial intelligence, and it reports securing coverage in over 500 media outlets for its portfolio companies.

In a conversation with TechCrunch, Drokova stated, “Our selection process centers around startups demonstrating a strong ‘customer obsession.’ Furthermore, our expertise in communications, bolstered by team members like Jack Randall who previously handled communications for Robin Hood, provides significant value. It’s encouraging to see that few female immigrants to the US have achieved this level of fundraising success so quickly, indicating a positive trend in the market.”