We’re proud to lead the first-ever venture capital fund dedicated to government technology startups. Our startups build SAAS applications for governments that are significantly better than existing technologies. Think applications for law enforcement, procurement, pension management, student enrollment, document management, water monitoring, etc.
The Govtech Fund launched in 2014. We have $50M under management across our two early stage funds. Our ~thirty Seed and Series A investments to date have raised over $500M+ in follow-on capital from leading VCs including General Catalyst, Lowercase Capital, KKR, A16Z, Spark Capital, 8VC and more.
The govtech space is massive - with governments spending $400 Billion+ annually on software/IT - but has traditionally been closed to startups...until now. Sweeping trends such as the emergence of the cloud, significant budget pressures, and open data have shortened sales cycles now counted in weeks instead of years.
In fact, the average sales cycle of our portfolio companies is just 73 days. In less than 24 months, our portfolio companies have relationships with 30,000+ government agencies. We are building a true ecosystem of govtech startups that help each other win deals.
In short, there is a multi-decade, global technology innovation cycle within government and the Govtech Fund is leading the way.
In addition to generating significant returns for our investors, our mission is to harness the power of transformers, technology, and capital to help government become more efficient, responsive, and better able to serve society.
Feel free to follow us @GovtechFund for all the latest from the world of #govtech.
• The Govtech Fund typically invests between $250K-$500K as an initial seed investment. These investments typically are too small to syndicate and you would want to be an investor in our Fund for access to these opportunities. However, as our portfolio companies gain traction, we are planning to syndicate subsequent funding rounds (eg. Seed+, Series A, Series B, etc.)
• You can opt out of any particular deal without penalty.
• Be comfortable with risk and prepared to lose your entire investment, as investing in startups is high risk, high reward.
