Sequoia Capital and Bain Ventures are among the many high-profile buyers which have backed the enterprise agency Kearny Jackson’s second fund, the early-stage targeted agency stated Wednesday because it gears as much as spend money on extra startups.
Kearny Jackson, based by former Spotify govt Sriram Krishnan, stated it has closed $14 million second fund. It has additionally roped in Sunil Chhaya, previously a VC at Menlo Ventures, as a co-GP.
The fund, whose title is impressed from the road names the place the 2 longtime associates have frolicked through the years, plans to proceed to spend money on SaaS, fintech, infrastructure safety corporations, aiming to identify them early and fund their pre-seed and seed rounds, it stated.
“From KJ2, we’d like to take a position $150k to $300K into pre-seed or seed stage startups, with the occasional collection A. We’re directionally hoping for 0.5% to 2% possession so we’re completely happy to collaborate with lead VCs in these rounds. With the addition of Sunil Chhaya, we at the moment are seeking to improve our check-sizes for KJ2 and past,” Krishnan instructed TechCrunch.
Various enterprise buyers together with a16z’s Marc Andreessen, Chris Dixon, Iconiq’s Doug Pepper, Greg Stanger, Arnav Bhimbet, Will Griffith and Divesh Makan, Reddit co-founder Alexis Ohanian, Blackrock’s Mark Woolley, and a lot of operators together with Polygon co-founder Jaynti Kanani and Microsoft’s Manik Gupta have additionally backed the fund.
Menlo Ventures, Kleiner Perkins and Basis Capital are additionally LPs within the fund.
“We’re very honored that they’re coming again once more for KJ2 and sit up for deepening our relationship with them. The founders in our portfolio have significantly benefited from connecting with top-tier buyers who, along with offering capital, additionally provide helpful insights and steering,” stated Krishnan.
It’s outstanding that so many operators and VCs have backed Kearny Jackson. Krishnan stated the agency makes high-quality introductions of founders to larger funds, in what’s a “win-win for founders/VCs.”
Kearny Jackson backed Sprig in its pre-seed spherical and launched the founder to Invoice Trenchard of First Spherical Capital. The 2 hit it off and First Spherical Capital led the seed spherical of Sprig. Unit, one other Kearny Jackson portfilio startup, has been backed by Accel and Perception Companions. Seed financing spherical of CTRLStack and seed and Collection A financing rounds of Cortex, two extra KJ portfolio corporations, was led by Sequoia Capital.
Each Krishnan and Chhaya have additionally made a collection of profitable investments through the years. Krishnan is an investor in Figma, Notion, Airbase, AngelList, Sorare, Calm and Khatabook, for example. Chhaya, who has additionally had stints at Piper Jaffray, Tenaya Capital and NextWorld, has sourced and deployed over $60 million through the years whose present worth is sort of $500 million, he stated.
The duo co-GPs stated they plan to host a lot of occasions with different funds, for founders and people seeking to begin their very own ventures in San Francisco and New York this 12 months. Kearny Jackson has distributed about 20% of its $3.6 million 2018 maiden fund, Krishnan stated.
“I’ve labored with dozens of buyers in my profession — and pound-for-pound, Kearny Jackson is on the absolute prime tier by way of worth added. KJ was a associate to me and to CtrlStack since earlier than day 1, and was the primary dedicated capital. As I used to be working by means of my imaginative and prescient for CtrlStack, pondering by means of sequencing and resourcing, KJ helped me slender down the strategic panorama and speed up the drive in direction of product-market match,” stated Dev Nag, founder and chief govt of CtrlStack. Nag, who offered his earlier startup Wavefront to VMWare, can also be an LP within the fund.