The Tapestry VC team. Image: Tapestry VC
Backed by British Business Bank, Railpen, Molten Ventures and OpenAI’s CFO, Sarah Friar, Fund III will see the firm double down on its play of backing the best repeat founders.
Tapestry VC launched its $80m Fund III today with the stated aim of doubling its scale and deepening its focus on backing repeat founders across Europe and North America. Backers include OpenAI’s high profile CFO Sarah Friar, among others,
Fund III is almost three times the size of the firm’s previous funds, and is co-anchored by a $40m commitment from new sovereign investor British Business Bank, alongside returning institutional co-anchors multi-million pension fund Railpen and Molten Ventures.
Tapestry VC pointed to the impact Europe’s repeat founder successes has had on innovation, job creation and growth, saying European tech had minted 477 unicorns over the past eight years, of which 60pc were started by a repeat founder.
