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Cherryrock Capital , founded by ex-husband - TaskRabbit CEO Stacy Brown - Philpot , announced Wednesday the closingof its $ 172 million Fund I with an all - star limited mate list that includes JPMorgan , Goldman Sachs , MassMutual , Melinda French Gates ’ Pivotal Ventures , Reid Hoffman , Mellody Hobson , and Sheryl Sandberg .
Brown - Philpot tell Bloomberg thatthe investment trust in reality closed in January .
The house launched in 2023 during what was a challenging period for fundraising in the venture industry . As a result , Brown - Philpot said it took about two years for the business firm to come together Fund I , she told the issue . Fund I seek to focus on companies at the Series A and type B stages , with Brown - Philpot note in her announcement blog post that there are few firms focus on leading later - staged investments for divers founders .
Cherryrock did not straight off reply to our request for comment .
The fund ’s dissertation come during a clip when diversity initiatives , programs , and concenter are under political and legal fire .
So far , Cherryrock has backed two company . It co - led the Series B of the AI company Coactive AI alongside Emerson Collective . Other investor included a16z and Bessemer . Cherryrock also invested in the Series A round for the YC health caller Vitable , alongside Citi Impact Fund and First Round Capital . Brown - Philpot is super accomplished . She previously worked at Alphabet and Google and serves on the board of various companies , admit StockX and HP . She was also a establish member ofthe Open Opportunity Fund , which is SoftBank ’s $ 100 million vehicle for backing diverse founder .
