Rocketship has invested in 44 companies across seed, A, and B rounds, with 46 percent of investments outside the US. The firm’s portfolio companies include Trocafone, NoBroker, Stocard, Moglix, Khatabook, Yulu, Wasabi, and Crosschq
FREMONT, CA: Silicon Valley-based early-stage venture capital firm Rocketship, which uses data science to democratize venture capital for the global startup community, raised $100 million for its second fund (Fund II).
The fund was backed by some of the world’s leading investors such as Vulcan Capital and Adams Street Partners, as well as, the family office of Marc Andreesen and Chris Dixon from A16z.
Founded by a team of veteran data scientists and entrepreneurs, Rocketship uses machine learning and data science to identify and invest in startups worldwide. The firm claims its smart algorithm tracks companies globally, using a series of metrics to indicate the probability that a startup will be successful.
“Venture Capital is undergoing its biggest shift in decades. As entrepreneurship goes global, firms are recognizing that the traditional Silicon Valley-based networking approach of VC is unable to scale to the new reality of meeting startups wherever they are,” said SaileshRamakrishnan of Rocketship.
“Our deep data expertise allows us to take a different approach, leveraging data science, technology and analytics to find the best companies anywhere, at any stage, in any market. We’re excited to be at the forefront of this shift and use our experience to help founders successfully build their companies, regardless of location.”
Drawing on its proprietary data-backed approach in Fund I, the firm discovered breakout companies spanning more geographies and industries than it could have using the traditional “network + inbound” model that has dominated venture capital for the past 50 years.
The launch of Fund II will enable Rocketship to continue investing globally across different sectors and company stages, and increase the firm’s number of follow-on investments.