US-based Venture Capital firm that invests in B2B cloud startups, Artisanal Ventures has announced that it has closed a $62 million funding. The $62 million funding is backed by top executives and founders from over 50 companies including Atlassian, AppDynamics, Square, CrowdStrike, Snowflake, MuleSoft, Splunk, UiPath and Crowdstike.
Led by Andy Price, the General Partner at Artisanal Venture, Artisanal says that it is poised to support companies leading the charge in the B2B cloud space.
“We sit in a unique spot in the B2B software landscape as both investors and recruiters,” says Van Nest, a partner at Artisanal Ventures.
“Our lens into the flow of great talent allows us to monitor and invest in spaces that are truly at the cutting edge. We’ve been focused on ML/NLP, cloud security and automation. We’re excited to be supporting companies leading the charge,” he continues.
In another vein, Price says that Artisanal's approach is not to compete with other firms in the venture capital space. Instead, the Bay Area domiciled VC wants to partner with other VC firms by building with them.
“Much of the success of these ventures has to do with the dynamics of the people supporting the founders."
“If that dynamic works, and you know that you’re a part of that group that has a constructive approach, lots of intellectual value to bring to the table, a track record and a bunch of brand power, it makes company building so much easier. That’s really our formula and what we already have been doing intentionally,” he stated.
Artisanal Ventures has invested in 14 startups so far, including Abnormal Security, Benchling and Transmit Security.
Price says that the firm is not ready to raise a second fund just yet, instead opting to deploy the fund they already have at their disposal intelligently.
“We’ll likely do it(fundraising) in the next two to three years, but for the next 12 months, we are singularly focused on deploying capital intelligently, as the market is getting utterly destroyed in the public markets.”
“What’s happening is that is starting to correlate with startups, and we’re waiting to see how that affects the pricing dynamics of private companies. Before going into another big batch of investments, we will play a wait-and-see approach and tap the brakes to see if we can’t get more great assets at fairer prices.”
A venture capital firm is an organisation that makes capital investments in companies in exchange for an equity stake. The venture capital firm is often expected to bring managerial and technical expertise, as well as the capital, to their investments.
