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Home Business & Finance With a new general partner and without Alexis Ohanian, Initialized Capital garners...

With a new general partner and without Alexis Ohanian, Initialized Capital garners $230 million for fund five – TechCrunch

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Summary (IA Generated)

Initialized Capital, the early-stage venture firm that got its start inside of Y Combinator almost a decade ago and spun out of the organization roughly five years later, has closed its newest fund with $230 million in capital commitments, cofounder Garry Tan announced on Medium earlier today.

Tan also announced that Initialized has a new general partner in Brett Gibson, with whom Tan has partnered with time and again in the past.

This editor also talked back in March with Tan and Alexis Ohanian, the Reddit cofounder and later Y Combinator partner with whom Tan, also a former YC partner, had founded Initialized.

While they gave no indication that they’d be parting ways, that’s exactly what happened more recently, with Ohanian deciding to raise his own pre-seed stage fund (reportedly with a 0 million-plus target), and Tan forging ahead with Initialized.

The firm has remained active in recent months, writing follow-on checks to Bodyport, a San Francisco-based digital health company focused on the detection and management of heart disease (it just closed a Series A round), and Truepill, a San Mateo, Ca.

-based online pharmacy that’s expanding into telehealth (and recently closed a Series B round.

Initialized also recently co-led a round for Shelf Engine, a five-year-old, Seattle-based company that optimizes the process of stocking store shelves for supermarkets and groceries.


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