HomeUSAAnkona Capital Closes Second Fund, at $129M

Ankona Capital Closes Second Fund, at $129M

Ankona Capital

Ankona Capital, a Newport Beach, CA-based venture capital firm, closed its second fund with $129m in total commitments, roughly doubling the size of its inaugural fund.

Ankona’s inaugural fund was closed in June 2021 at $66m.

With the new fund, Ankona continues to focus its investments on early growth-stage business-to-business (B2B) software companies. The firm invests $5m to $15m into companies which typically have $5m-$15m in recurring revenues, and also provides resources and support to entrepreneurs.

The firm has already made four investments to date from its new fund, including: 

  • Bonusly, an employee recognition and reward platform, 
  • Alleva, a data-driven electronic medical record (EMR) and practice management system for behavioral health facilities, 
  • Rivet, a healthcare revenue acceleration platform, and 
  • VideoAmp, a media measurement and optimization platform.

Founded in 2019 by Managing Partners Josh Harmsen, Brian Mesic, Newth Morris, and Jared Smith, Ankona closed its inaugural fund in June 2021, at $66m. In addition to the managing partners, Ankona has an operating partner team that includes five former founders who have started, built and sold software companies including Zingle (acquired by Medallia), SafeSend (acquired by Lead Edge Capital), Telogis (acquired by Verizon), OGSystems (acquired by Parsons) and DealerSocket (acquired by Solera) for more than $2.5 billion combined.

Commenting on the close, Brian Mesic said: “We want to build relationships so that we are the ‘first call’ for our CEOs. We will be the first to celebrate wins and the toughest fighters in the foxhole through setbacks.