Sovereign’s Capital, a diversified alternative asset manager dedicated to backing faith-driven companies and funds, recently wrapped up its largest venture capital fund to date. With Venture Capital Fund IV, LP secured over $60 million in capital and saw participation from both limited partners and new institutional investors. This significant influx of capital marks a major milestone for the firm as it gears up to support early-stage technology startups.
Founded in 2012, Sovereign’s Capital operates in the U.S. and Southeast Asia. The firm provides capital and strategic partnerships to companies and funds led by faith-driven founders that it believes have the potential for outsized returns and impact. The firm offers investment funds across the following asset classes: venture capital, private equity, public equity, real estate, and funds.
As of June 2024, the firm has managed over $780 million in assets across its five asset classes. The recently closed Sovereign’s Venture Capital Fund IV will be investing further in Seed and Series A stage technology companies led by faith-driven entrepreneurs across the U.S. and Southeast Asia, believing that scaled technology companies are distinctly positioned to provide excellent financial returns and contribute to human flourishing. Sovereign’s Capital will seek founders who aim to deliver strong financial returns while simultaneously adhering to the value of “love their neighbor” through their products and internal company cultures and missions.
The venture team’s six investment professionals have deep venture capital and valuable operating expertise and are supported by a larger global team of more than thirty professionals. The venture team will invest up to $4 million per investment into sectors where they have operational experience: B2B and B2C software, fintech, healthtech, deep tech, and tech-enabled services.
Thoughtfully engaging with portfolio companies to provide strategic and operational partnerships, the team has already gotten to work. Out of an anticipated portfolio of approximately thirty-five companies, the Sovereign’s Venture Capital Fund IV has already invested in nine companies, including:
- Fakespot: AI systems that detect fraudulent patterns in online reviews to bring trust and transparency to e-commerce.
- Fringe: personalized employee benefits and well-being platform that caters to all life stages and lifestyles.
- Preveta: AI care navigation platform that empowers oncology and specialty clinics to uncover patients who are falling through the cracks and take action.
- Komunal: banking platform that accelerates financial inclusion, combining funding access and hyperlocal lending.
- Relay: cloud-based communications platform developed to improve productivity.
- Kinship: online communities for open and judgment-free conversations about big-life questions.
- Passage Health: software solutions that improve the quality and accessibility of care available to autistic individuals.
- BrightPlan: digital financial wellness solution for business leaders to enhance the employee experience.
- Bricklayer AI: autonomous cybersecurity platform where teams of artificial intelligence specialists collaborate with their human peers to create more efficient security operations.
Jake Thomsen, Managing Partner of Venture Capital at Sovereign’s Capital, states, “We are grateful to announce the successful final close of Venture Fund IV, especially in the midst of one of the toughest venture fundraising environments in decades. The fund’s early portfolio of nine companies is built on the incredible work and leadership of our mission-driven founders, which was made possible only through the partnership of our nearly one hundred limited partners. Our team could not be more excited for the years ahead.”
