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Wellington Management Closes Wellington Venture Investments I

Wellington Management

Wellington Management, a Boston, MA-based independent investment management firm, closed its early-stage venture fund, Wellington Venture Investments I, with US$150m in commitments.

The investor base includes insurance companies, health care companies, state plans, international banks, foundations, and family offices.

Managed by Wellington Access Ventures (WAV) the firm’s early-stage venture capital team, and offered through Wellington’s US$8.0 billion Private Investing platform, which includes early-stage venture to late-stage growth funds investing in multiple sectors for clients across the globe, the fund backs in early-stage companies in large and growing markets like the B2B software, fintech, and consumer sectors.

Led by Jackson Cummings, the WAV team sees a unique opportunity for value creation and return potential among founders who have been historically underrepresented and overlooked in the venture capital space, predominantly focusing on finding and supporting talented Black, Latine and women entrepreneurs, among others. Beyond providing a source of funding, the WAV team partners with entrepreneurs, providing them with advice and access to business networks, support, and growth opportunities. The team is able to supply operational guidance – as well as access to Wellington’s global industry analysts and research resources – to help further company growth.

The fund has already made numerous investments in diverse founder-led companies, focused on businesses with the potential to become leaders in large or growing markets. Sectors identified by the WAV team include artificial intelligence, DevOps, infrastructure, fintech, digital health and consumer technology with a focus on cultural and demographic shifts. In addition, as part of their investment strategy the WAV team will partner with other diverse-led emerging fund managers to further strengthen and grow the venture ecosystem.

Members of the WAV team, led by Cummings, include Frederik Groce, Sasha McKenzie, and Van Jones.

VCWire

24/10/2023