Collab Capital Closes $75M Fund II to Back Early-Stage Innovators

Jewel Burks Solomon, a prominent Silicon Valley figure known for her leadership at Google for Startups US, has successfully closed a $75 million Fund II for her venture capital firm, Collab Capital. This milestone follows the firm's inaugural $50 million Fund I launched in 2020, which invested in 38 companies including innovative platforms like Goodr and Culina Health.

Fund II is backed by heavyweight limited partners such as Apple, Goldman Sachs Asset Management, and the Leon Levine Foundation. The fund is dedicated to supporting early-stage startups at the seed and Series A stages, particularly those innovating in the future of work, healthcare, and infrastructure sectors.

Collab Capital plans to deploy checks ranging from $1 million to $2 million to at least 30 companies over the next five years, with 40% of the fund reserved for follow-on investments. The firm has already invested in six startups from this fund, signaling a strong start.

Solomon emphasized the challenges faced during fundraising, citing a tough macroeconomic climate and shifting limited partner priorities. Despite these hurdles, the team remained committed to their vision of fostering shared prosperity through scalable, impactful investments.

This announcement aligns with a broader trend of Black-led venture funds closing significant capital raises, including Zeal Capital Partners’ $82 million Fund II and Cherryrock Capital’s $172 million Fund I. These developments highlight increasing investor confidence in diverse founders and funds addressing systemic challenges.

Why Collab Capital’s Fund II Matters

Investing in early-stage companies that tackle systemic problems is more than a financial strategy; it’s a commitment to shaping the future economy. Collab Capital’s focus on sectors like the future of work and healthcare addresses urgent societal needs while unlocking new market opportunities.

With a strong LP base including tech giants and financial institutions, Collab Capital is positioned to make significant bets that combine impact with competitive returns. This approach challenges the outdated notion that social impact and profitability are mutually exclusive.

For founders, this means access to capital that not only fuels growth but also aligns with a mission to solve deep-rooted challenges. For investors, it signals a maturing ecosystem where diversity and innovation drive value creation.

Looking Ahead

As Collab Capital embarks on this new chapter, the venture capital landscape is evolving to embrace more inclusive and impact-driven investment models. Jewel Burks Solomon’s leadership exemplifies how perseverance and vision can overcome fundraising challenges and unlock new paths for underrepresented founders.

The next five years will be critical as Fund II deploys capital to startups that could redefine industries and create scalable prosperity. For entrepreneurs and investors alike, Collab Capital’s journey offers valuable lessons on the power of conviction and the importance of backing bold ideas.