Beta Boom, a pre-seed and seed-stage venture capital firm, has raised $14.5 million for its Fund II. The fund will support early-stage startups that address the most critical needs of the fastest-growing, yet least-served populations. Limited partners in the fund include Ally Bank, Pivotal Ventures, Bank of America, and Atento Capital. Beta Boom focuses on fintech, digital health, and the future of work.
Beta Boom takes an untraditional approach to evaluating founders, looking beyond referral networks and major tech hubs. Prospective investments are evaluated on more than 30 dimensions, with a significant emphasis on team execution and founder qualities such as grit. Beta Boom recently conducted an analysis of the top 10 venture capital firms and found that 69% of investments were linked to pedigree.
Beta Boom has already invested in 20 companies through its Fund I and Fund II, supporting impact-driven companies in various sectors. The firm’s managing partners have led innovation and growth projects for major brands like Google and TiVo.
