Interlace Ventures Raises $14M for Its Debut Fund Dedicated to Supporting a Post-Covid Commerce World
SAN FRANCISCO and NEW YORK, June 10, 2021 /PRNewswire/ — Today Interlace Ventures, an early stage venture firm dedicated to investing in the next Shopify at its earliest stage, announced it has raised $14 million for its debut fund. Backed by Paypal, Bain Capital Ventures, Carta and some of the most prominent families, executives and entrepreneurs in the commerce space, the firm brings together via its Commerce Platform a broad community of change-makers committed to building a better future of commerce.
Introducing Interlace Ventures. Interlace Ventures invests in pre-seed and seed-stage startups building a more personalized and sustainable future of shopping. The firm plans to invest in up to 30 companies, with a current portfolio of 13 emerging companies across commerce infrastructure and sustainability including Alloy Automation, b8ta, CommerceJS, Olive, and Treet.
Composed exclusively of former commerce operators in the U.S. and China, the investment team’s firsthand experience uniquely positions them to identify and support innovative commerce technologies. To strengthen its team further, the firm recently added two new venture partners, Vibhu Norby and Sydney Werber, who bring deep expertise in new retail experiences and video commerce.
“Technology is key to enable more sustainable, personalized and delightful consumption. It supports legacy and emerging brands to be more consumer-centric,” said Joseph Sartre, Managing Partner at Interlace Ventures. “We are investing early and heavily in enhanced commerce infrastructure technology to support the industry’s scalability and sustainability transformation for the next 30 years.”
Funding Better Commerce. Soon to be the largest and most influential consumer base in the US, Generation Z is the most globally conscious generation and most diverse in U.S. history. Challenged by this new demographic who grew up in an environment of accelerated technological change, the next decade will see the rise of new models, in their image, that will drive our societies to better consumption.
Interlace Ventures invests in primarily commerce technologies that operate in one of two ways:
- The How: Enabling technologies and infrastructure platforms throughout the retail value chain
- The Where: Marketplaces, new distribution platforms or new retail experiences
To reflect this new diverse consumer group, Interlace Ventures is actively investing in founders building for and representative of this next generation—55% of Interlace’s companies are led by founders from underrepresented groups.
“As a Black-led investment team made up of immigrants and former commerce operators in Asia and Europe, the experience we bring to the table sets us apart from other seed funds,” said Vincent Diallo
A Unique Commerce Platform. Beyond capital, Interlace Ventures offers its portfolio access to its Commerce Platform—an active global community of nearly 100 brands and retailers, including companies like Mars Wrigley and Decathlon, eager to gain insights into the evolution of commerce and connect with leading change-makers. Leveraging this strategic partner base, Interlace Ventures actively supports the acceleration of its portfolio, introducing its founders to their first partners and customers.
To learn more about Interlace Ventures, be considered for investment or become a brand partner, please visit www.interlaceventures.com.
About Interlace Ventures
Interlace Ventures is an early stage fund dedicated to investing in technology companies supporting the transformation of commerce. Based in New York City and San Francisco with operating experience spanning Europe and Asia, the team has invested alongside world-class early stage software and technology venture funds. Backed by Paypal, Bain Capital Ventures, Carta and some of the largest families and executives in retail, fashion and consumer packaged goods (CPG), the firm offers a unique Commerce Platform—powered by an extensive global community of brands—to deliver its portfolio unique access to potential business. As immigrants from diverse backgrounds, the team believes diversity is a strength and ensures its investments reflect those values: 55% of Interlace Ventures’ portfolio is led by women, people of color or immigrants. Managing Partner Vincent Diallo is in charge of the event committee at BlckVC and also a mentor at Startout.
Find them at www.interlaceventures.com and follow them on @interlacevc and LinkedIn.
BuzzKat, Inc. for Interlace Ventures
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SOURCE Interlace Ventures
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