Animal Capital Closes $33 Million Fund III to Double Down on Early-Stage Strategy
Backed by elite technology founders, institutional operators, and cultural icons, Fund III scales check sizes by 142% to anchor seed-stage investments
Animal Capital, an early-stage venture capital firm, today announced the successful closing of Animal Capital Fund III (“Fund III”) with $33 million in total commitments, reflecting strong support from both new and existing investors. The closing represents a significant scale-up from the firm's $13 million Fund I and $16 million Fund II, enabling Animal Capital to expand its core strategy of driving early-stage growth through institutional rigor and unparalleled cultural influence.
Alongside the vehicle’s capital growth, Fund III increases the firm's target check size up roughly 150% from its inaugural fund. The fund will continue to target early-stage, primarily U.S.-based investments that leverage technology to make consumers' lives better, more efficient, or more entertaining.
Founded in 2020 by Marshall Sandman following his tenure leading venture capital for WarnerMedia, Animal Capital has established a performance record marked by an industry-leading IRR, placing it in the top 1% of returns for both its Fund I and Fund II vintages. The leadership team expanded in 2022 with the addition of Managing Partner Dylann Sands. Sandman and Sands, who first met at Cornell University, both bring complementary institutional expertise to the firm, having previously worked together in Goldman Sachs' investment banking division.
