TLDR:
- Underscore VC closes its $58 million third fund as the firm completes a generational transfer
- Lily Lyman, Underscore VC managing partner, has rerouted international travel plans multiple times to meet with founders
An exclusive article by Allie Garfinkle for Fortune reveals that Underscore VC, based in Boston, has closed its third fund at $58 million as the firm undergoes a generational transfer. The firm’s most notable investments include Hi Marley, Hue, Cloudzero, Slang, and Kard. The leadership transition from one generation to another is highlighted, with managing partner Lily Lyman taking over key responsibilities.
This transition is part of a larger AI-fueled inflection point in the industry, where Underscore sees opportunity for growth and success. The firm’s close ties to academia, particularly Harvard and MIT, have contributed to its success in life sciences and AI investments. The Core Community, a network of entrepreneurs and executives, plays a crucial role in advising founders.
Underscore founder Michael Skok’s vision for a community-driven VC firm has come to fruition, with a focus on organizing founders to help one another. The recent passing of cofounder John Pearce and Skok’s health challenges have led to a natural transition in leadership, with Lyman poised to lead the firm into the future.
Overall, the article highlights Underscore VC’s journey, from its origins nearly a decade ago to the present day, showcasing the firm’s commitment to supporting early-stage startups and fostering a collaborative community within the Boston ecosystem.
