Joining TTV in doubling down on their investment in the company were Owl Ventures, SoftBank’s Opportunity Fund, Mubadala Capital and Next Play Capital. TTV Capital led Welcome Tech’s latest capital infusion, which brings the company’s total raised to date to $70 million since its 2010 inception. The raise follows the L.A.-based company’s $35 million Series B in April 2021, which was co-led by TTV Capital, Owl Ventures and SoftBank Group Corp.’s SB Opportunity Fund. Welcome Tech, a startup aiming to build “an operating system” for immigrant families in the U.S., has raised $ 30 million in new capital to help these individuals not only adjust to – but feel comfortable and “thrive” in – their new environment.īuilt by immigrants for immigrants, Welcome Tech wants to do just what its name indicates - help immigrants feel more welcome, have an easier transition and achieve greater success when moving to the U.S. In many cases, they are dealing with a foreign and complex financial system, may struggle with finding adequate housing and health care and just generally feeling lost. Matt is also a company advisor to Wish and Atomic VC, as well as an early investor in Flexport, Calm, and Hims&Hers.Immigrants to the United States face myriad challenges besides having to learn a new language. Prior to founding Cherubic, Matt co-founded Tian-Ge in Mainland China and 91APP in Taiwan, both went public at over $1B+ in market cap. Matt is a venture investor, serial entrepreneur, company advisor, and former junior tennis player. To date, Cherubic has a global network of more than 150 portfolio companies, as well as 500+ founders, advisors, and institutional investors, allowing us to provide top-tier support for founders on their startup journey. Some of our notable portfolio companies include Hims & Hers, Calm, Flexport, 91APP, Paidy, and Tezign. We have team members stationed in San Francisco, Taipei, and Shanghai. Cherubic aims to be the first institutional investor of the next iconic company and back founders who dare to dream big and change the world. Additionally, the firm has deployed its resource network of over 500 individuals comprising founders, investors, and industry experts into other overseas markets, being one of the first investors in Croatia's biggest Edtech startup Photomath, women's physical and mental health company Bellabeat, and Chaldal, the largest grocery delivery platform in Bangladesh.įounded in 2014, Cherubic is a global venture capital fund investing in the most ambitious founders from angel to pre-IPO. With our Fund V, we will continue to leverage both our financial and human assets to help founders build their startups with both a global perspective and keen insights into their local markets."Įstablished in 2014, Cherubic Ventures is one of the few institutional investors to be actively investing in both the US and Asia markets. This culture comes from the founder's own personal experience as an entrepreneur and understanding of the journey: "From our creation eight years ago to today's important milestone, Cherubic has always relied on our tight-knit, global community of founders, investors, and industry experts. However, Cherubic is very willing to be the first investor to believe in these teams."Ĭheng added that his firm's criteria for choosing which startups to invest in are whether that team has a unique solution for a customer problem and how much experience they have in both entrepreneurism and their respective industries.Ĭheng emphasized Cherubic's core value of "founders-first", noting how the company's support of startups goes beyond capital contribution to consultation, mentoring, and providing emotional support throughout the entrepreneurial journey. Managing its capital under a "sector-agnostic" strategy, the firm has partnered with over 150 startups from across the world in industries ranging from consumer to enterprise solutions to blockchain technology, among others.Īdding to its portfolio of market-leading unicorns in 2021, Cherubic Ventures was also among the first investors in industry-pioneering startups such as the world's top sleep meditation app Calm along with Flexport, the leader in digital transformation for the logistics sector.įounder and Managing Partner Matt Cheng explained how Cherubic's Fund V will represent a continuation of the firm's "First Check" approach of seeking out high-potential teams that have yet to acquire any funding: "Putting faith in those startups that have yet to receive any investment is a challenging first step. Cherubic Ventures will also reserve more than 50% of Fund V assets for supporting startups to their later rounds all the way to pre-IPO, providing long-term and full support to its portfolios.
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