Essence VC, headed by founder Tim Chen, has raised $27m for its third fund. The fund’s focus on data infrastructure, developer tools, and AI has led to investments in companies such as Jasper, Motherduck, and Sardine, which was valued at almost $500m in its most recent round of funding. Chen is seen as a well-connected investor who often gains difficult to obtain feedback from his firms. He has this crystal ball into what VCs are looking for, said Liz O’Sullivan, CEO of AI compliance startup Vera. Chen invests predominately in pre-seed rounds, often leading.
Under-the-Radar VC Raises $27M Third Fund, Invests in Hottest Startups Such as Jasper and Motherduck: Exclusive Interview
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