Base10 Partners has closed $850M across two new funds, bringing total assets under management to $2.6B, backed by CalPERS, Sofina, and other institutional investors
The San Francisco firm, one of the world’s largest Black-led VC funds, has backed category leaders including Nubank, Brex, Instacart, Notion, and HappyRobot.
Base10 is doubling down on its founding thesis: that the biggest AI winners won’t be model builders, but the companies applying AI to logistics, finance, healthcare, and operations.
Most venture firms chasing AI have pivoted to chase it.Base10 Partners has been running toward the same thesis since 2018. Now, with $850M in fresh capital and $2.6B under management, it has the firepower to prove the bet was right.
The San Francisco firm, one of the world’s largest Black-led venture capital funds, has closed two new funds: a seed and Series A vehicle (Fund 4) and a Series B fund (Fund 2). LPs include CalPERS, Sofina, endowments, sovereign wealth funds, and other institutional investors. The capital is already being deployed.
