Aspect Ventures, the San Francisco-based early-stage venture firm founded in 2014 by longtime VCs Jennifer Fonstad and Theresia Gouw, has begun raising its second fund, and the outfit is looking to raise up to $175 million, shows an SEC filing.
The firm hasn’t responded to questions about its fundraising plans, but we’d guess that investors will line up quickly to fund the firm. In addition to the backgrounds of Fonstad and Gouw, who worked previously at DFJ and Accel Partners for 17 and 15 years, respectively, the team has assembled a promising portfolio, with bets that include millennial recruitment site The Muse, the on-trend fashion jewelry company BaubleBar, and the babysitting service UrbanSitter (which has proven a lifesaver for this editor).
Aspect, which closed its debut fund with $150 million in 2015 and broadly focuses on Series A-stage millennial, health, and security startups, has also invested in Vida Health, an app that pairs patients with health coaches; Exabeam, a data security analytics company; and Forescout, a cybersecurity unicorn.
Many of the companies in its portfolio are too young to judge, though at least one, Birchbox, a subscription service, has reportedly struggled to turn profitable in recent years.
Aspect is also an investor in the hotel booking app HotelTonight, which was reportedly looking into an IPO as of last summer after trimming costs, including laying off some employees.
Since founding the firm, Fonstad and Gouw (a six-time Midas Lister) have added several members to their investment team. These include principal Lauren Kolodny, who previously worked in product marketing at Google; Vishal Lugani, who’d previously spent three-and-a-half years with Greycroft Partners; and Asad Khaliq, who previously worked as a management consultant at PwC.