Aspect Ventures raises $181 million fund

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Aspect Ventures has finalized its second fund. The team led by Jennifer Fonstad and Theresia Gouw has closed $181 million, up from $150 million it raised at its inception three years ago. 

An SEC filing last year alerted us that the team was fundraising, but now it’s officially official. Aspect is also adding Melinda Gates and Cisco to its roster of LPs.

The team is “looking forward to putting this new money to work,” said Kendra Ragatz, general partner and COO at Aspect. She’s particularly enthusiastic about cybersecurity, digital health, fintech and enterprise businesses that they consider “the future of work.”

Ragatz is one of four female GPs at the top of the firm, an anomaly in the male-dominated world of venture capital.  And 40% of their investments have a female co-founder, compared to an industry average of just 13%.

Aspect primarily does early-stage investments but has already had exits. Forescout went public last year. Other notable investments include The Muse, Chime, Gusto and The RealReal.

“Over half of our portfolio companies have gone on to raise successful follow on rounds,” said Ragatz.