HomeUSARevroad Capital Closes Maiden Venture Capital Fund, at $61M

Revroad Capital Closes Maiden Venture Capital Fund, at $61M

RevRoad Capital
(L-R) RevRoad Capital founding team: Scott Petersen, Rachelle Morris, David Mann, and Bart Skalla

RevRoad Capital (RRC), a Provo, UT-based seed-stage venture capital firm, closed its first fund, at $61m.

Led by Executive Managing Director David Mann and Managing Directors Rachelle Morris, Scott Petersen and Bart Skalla, RevRoad Capital RevRoad Capital will support high-potential, transformative founders and teams in the U.S., spanning industries such as electric vehicles, artificial intelligence, SaaS, manufacturing and more.

Mann’s background as an Amazon executive and as a serial entrepreneur, who scaled and ran a 1,000+ person organization, lends vital experience and foresight to the companies RRC invests in. His own extensive experience as an investor and former Goldman Sachs and JP Morgan executive further bolsters the firm’s ability to responsibly steward its capital and manage its diverse community of LPs.

Morris’ experience as an investor and former Goldman Sachs and JP Morgan executive further bolsters the firm’s ability to responsibly steward its capital and manage its diverse community of LPs.

Skalla co-founded RevRoad in 2017, establishing its Finance and Capital Services by leveraging his experience in startups, corporate finance and venture capital.

Petersen spent his career as a serial entrepreneur, founding and leading several successful startups, and recently served for ten years as the Executive Director of the Rollins Center for Entrepreneurship and Technology at Brigham Young University.

Commenting on the announcement, David Mann said: “We launched RevRoad Capital in 2022 as a sister company to ‘venture services’ firm RevRoad, to help drive greater success for innovation-driven startups and to scale founders faster. Our founding team’s proven track record and our capital, paired with RevRoad’s mature entrepreneurial ecosystem, fills a gap in today’s modern venture capital business model that was sorely needed. Our ability to raise this debut fund is a direct reflection of these combined strengths. We’re already attracting dynamic founders and have begun investing in the next generation of global companies, such as Hypercraft, Particl, Kinectify, Halosight and Sierra Innovations.

Utah is one of the top states in the country for entrepreneurial women, and it has been exciting for our team to receive the financial backing of many successful women as we’ve raised our fund. When you look at what we’re building and how we’re building, you cannot separate women from men in the story of RevRoad Capital. We are all working together,” Morris added.

VCWire

18/10/2023