Counterpart Ventures Fund II

Today we are thrilled to announce that we have closed Fund II with over $110M raised to invest in founders and entrepreneurs who are just like us: ambitious and relentless.

While we launched Counterpart Ventures in early 2018 we thought best to defer any announcement until we had something meaningful to share. So after a period of prolonged anonymity, we are out in the wild and with a new website. Let’s roll back the tape and explain how we got here…

Hello, Newman… (we have a penchant for Seinfeld & Curb Your Enthusiasm gifs)

Our Founding GPs

Patrick is the former Managing Director at Qualcomm Ventures (QCV) and Joe is the former Managing Director at Recruit Strategic Partners (RSP). Patrick built his VC career spending 12+ years at QCV. There he achieved many firsts: first associate with check-writing ability, founded the Early Stage Fund which was the first of its kind in CVC, launched their Bay Area practice and then led the US team to operate like a traditional VC. Joe cut his teeth in venture investments first at Hitachi and then at Recruit Strategic Partners where he led their US team for six years in the Bay Area. As one of the largest internet media companies in Japan with $100B+ market cap, Joe was tasked with preparing Recruit for future technological disruption by identifying and investing in new innovative businesses.

The Importance of CVC & Counter Club

CVC has become a critical source of capital in the venture ecosystem, now participating in over ¼ of all VC backed deals (source: Pitchbook). Exits of CVC-backed companies were up 95% YoY in H1 2021, reaching a half year record of 438 (source: CB Insights). Many new CVC models now capitalize on the value of a major corporation without the bureaucratic baggage. Historically CVCs have been plagued by the “dumb money” stereotype, but today many are getting into some of the best deals and investing with renewed vigor.

Fund II

When we started Counterpart Ventures in 2018 our strategy was to invest in sectors and technologies of familiarity. Maintain hyper focus on B2B SaaS, marketplace and mobility with discipline avoiding shiny object syndrome or the latest trends. We hired Mikey from Australia, our Senior Associate & Head of Operations to help create the Counterpart brand, work the top of funnel and define what we would best be known for. He would focus on value-add, supporting the portfolio post-investment which complimented our ambitions with Counter Club. We promised our founders we would invest with complete conviction. Our flexible, innovative funding model would consider the needs of founders when leading early stage rounds, taking board seats, respecting founder dilution and playing an active role in company building.

Want to join us at Counterpart Ventures?

We’re now also on the hunt for our fourth team member who will help us identify maniacal, dogged founders to invest in. The position is currently open and more information can be found here. We’re so excited for what the future holds and look forward to the next generation at Counterpart Ventures.

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Counterpart Ventures

Counterpart Ventures

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Stage agnostic Venture Capital firm based in San Francisco investing with unrivaled conviction to create unique and memorable stories.