Business Diversity Venture

Base10 Partners Raises $460M Fund For Early-Stage Startups

Base10 Partners co-founders TJ Nahigian and Adeyemi Ajao

San Francisco-based Base10 Partners raised a $460 million fund—its largest to date—to invest in early stage startups. 

The new fund is the third raised by Base10, which was co-founded by Adeyemi Ajao and TJ Nahigian.

In 2021, the firm raised a $300 million growth fund—from which Base10 donates 50 percent of its carry to historically black colleges and universities (HBCUs). Prior to the growth fund, Base10 raised a $250 million fund in 2020. 

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The firm invests in 25 companies per fund and heavily focuses on four key areas of investment: food, retail, logistics and global fintech. 

The firm recently co-led a Series A investment in October 2021 with 645 Ventures and Cometa in Skydropx, a shipment logistics management platform operating in Latin America. It also co-led a Series A in January of this year alongside Construct Capital in San Francisco-based Woflow, which digitizes merchant data for its customers. 

“We have the honor of working with the best founders in the world, solving problems that impact all of us at a time when we all really need it, and we wouldn’t want to be doing anything else,” said Ajao.

Base10 Partners is one of few Black-founded firms in the U.S. that have raised a new fund in 2022. Serena Ventures founded by Serena Williams raised its first fund of $111 million earlier this year to invest in “founders who solve everyday problems through unconventional thinking and diverse points of view,” it said in its announcement.

Picture of Base10 Partners co-founders TJ Nahigian and Adeyemi Ajao

Blog image: Li-Anne Dias

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