Recast Capital Announces Second Cohort for the Accelerate Program

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Oct 09, 2024, 08:43 ET

25 funds will join the 2024-2025 program featuring educational content, peer networking, financial support, and other new offerings

NEW YORK, Oct. 9, 2024 /PRNewswire/ -- Recast Capital, a platform dedicated to investing in and supporting emerging managers in venture, today announced the second cohort of Recast Accelerate, a catalytic program designed to drive the success of women and nonbinary-led, early stage US funds in venture capital.

Recast Accelerate launched in early 2023 with the intent to help more diverse managers successfully raise and run institutional-quality funds. Accelerate provides access to Recast's established Enablement Program, including key educational content, professional development and community-building resources, complimentary executive coaching, and $100k to be leveraged in support of each fund's backend operations.

The Fall 2024 cohort welcomes GPs from 25 funds; 100% of the funds have at least one GP who identifies as a woman or non-binary, 28% have at least one GP who is Black, 20% Asian, 4% LatinX, 12% LGBTQIA+, and 32% first generation US citizens. The participating funds are headquartered across the US, and 68% of the participating funds are raising a Fund I. Sectors of fund focus vary across verticals including, but not limited to, ClimateTech, Artificial Intelligence, Enterprise SaaS, FinTech, and Health and Wellness.

The second cohort of Recast Accelerate includes:

Emily McMahan & Sherman Williams - AIN Ventures
Leslie Harwell & Karla Mora - Alante Capital
Jessie Lam & Toan Huynh - Alinea Ventures
Anna Garcia - Altari Ventures
Holly Neiweem - Apprentis Ventures
Bonita Stewart & Jackson Georges Jr. - BAG Ventures
Margaret Coblentz & Dawn Dobras - Capital F
Ashley Mayer - Coalition Operators
Molly Fowler - Dorm Room Fund
Tatijana Janko - Fjor
Jess Lynch & Greg Raiz - FoundersEdge
Cvic Innocent - Frankenbuild Ventures, aka F(v)
Virginie Raphael - FullCircle
Alexandria Lafci - Hometeam Ventures
Maggie Kenefake - Iron Prairie Ventures
Molly Mielke - Moth Fund
Allison Stern - Mother Ventures
Helen Min - Phenomenal Ventures
Sophie Purdom - Planeteer Capital
Alexis Ji - Primer Ventures
Sarah Niyogi & Somrat Niyogi - Recall Capital
Caroline Lewis - Rogue Women's Fund
Sarah Smith - Sarah Smith
Sheena Jindal & Kyle Richless - Sugar Free Capital
Terri Burns - Type Capital

The review process was supported by a selection committee of limited partners with experience working with emerging managers in venture, including Ashlie Tyler of Bank of America, Angela Outlaw-Matheny of Crewcial Partners, Anna Mason of Ingeborg Investments, Geoff Abrahams of The Harry and Jeanette Weinberg Foundation, Margot Kane of Spring Point Partners, and Matt Rho of Avivar Capital.

Building upon the success of and learnings from the first cohort, Cohort II is comprised of a smaller number of funds to allow for additional program funding for more shared services, providing no-cost support to the emerging managers for critical needs across their firm-building experience: investor relations, operational templates, an internship program for additional support, and storytelling and sales workshops, among other things.

"Today marks an exciting milestone for Recast as we begin the next chapter of Accelerate with this second cohort. Innovation thrives when different perspectives come together and we are actively working to foster that diversity within the venture capital community," says Courtney McCrea, Co-Founder and Managing Partner. "By providing meaningful resources that tip the scale for underrepresented leaders, we're not just backing new funds, we're building the framework for a future where diversity is more than a checkbox, but a cornerstone of progress, growth and outsized returns."

"While increasing the number of female and non-binary GPs in venture was one driver in forming Accelerate, our north star is to see those managers thrive and build highly successful funds. Just increasing the number of diverse GPs is not enough," says Sara Zulkosky, Co-Founder and Managing Partner. "Despite a growing number of female and diverse-led funds, the amount of capital managed by these managers has actually decreased in recent years. The managers in the Accelerate Program will be successful without Recast; our mission with this program is to accelerate that success."

Early support for Accelerate comes from Pivotal Ventures, a Melinda French Gates company. The Accelerate participant experience is also supported in 2024 by our partners and event sponsors Gunderson Dettmer, Strut Consulting, Antares Capital, Aumni, Banc of California, Citizens Bank, Cornerstone Fund Services, Frank, Rimerman & Co., Sydecar, and Mercury.

Recast Accelerate is a fiscally sponsored project of New Venture Fund, a 501(c)(3) public charity. Recast is looking to bring additional funders on board to broaden the program's reach, include more managers in future cohorts and provide more funding to the managers.

To learn more about Recast Accelerate and explore how you can get involved, visit: https://recastcapital.com/accelerate/ and reach out to us via email at [email protected].

About Recast
Recast Capital is a 100% women-owned venture capital platform that invests in and supports top-tier emerging fund managers, with a focus on diverse partnerships. The platform was built to drive returns and create substantive change in the venture industry.

Founded by seasoned, institutionally-trained fund investors Courtney McCrea and Sara Zulkosky, Recast Capital leverages its deep network and exceptional track record to provide its limited partners diversified exposure to top-performing emerging managers, as well as access to a pipeline of the future's industry-leading franchises.

Recast launched the Enablement and Accelerate Programs as powerful complements to its fund investment strategy; the programs provide learning and development opportunities for emerging managers in venture, allowing Recast to support more of the community than just those it can invest in via their fund investment strategies.

Learn more at www.recastcapital.com.

Media Contact
Gabby Champion
[email protected]
760-636-3490

SOURCE Recast Capital