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Venture Capital
fitzgate.com

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Investments

19

Portfolio Exits

1

Funds

2

About Fitz Gate Ventures

Fitz Gate Ventures is an early stage venture capital firm organized to be at the center of the burgeoning Princeton entrepreneurial ecosystem across the United States. With a headquarters in Princeton, relationships on campus as well as with loyal alumni nationwide and its "Friends of Fitz" network of Princeton professors, students and alumni, Fitz Gate Ventures will have early access to a wide range of investment opportunities both on and off campus. The fund's strategy of leveraging its Friends of Fitz and the broader Princeton network for deal sourcing, deal vetting, follow-on financing and mentorship of its portfolio company founders and management is unique, even among other university focused funds. The fund's principals are connected to the University, its students and alumni through current and past alumni leadership positions.

Fitz Gate Ventures Headquarters Location

Princeton, New Jersey,

United States

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Latest Fitz Gate Ventures News

Spruce Raises $26M in Series B Funding

Jul 19, 2022

Spruce , an Austin, TX-based provider of lifestyle services to the multifamily industry, raised $26M in Series B funding. The round was led by Sweat Equity Partners, with participation from SoftBank Corp., Mercury Fund, Fitz Gate Ventures, Seamless Capital, Raven One Ventures, and New Age Ventures. The company intends to use the funds to hire to nearly double its headcount, with a focus on product, engineering, and sales. Led by newly appointed CEO Steven Pho*, Spruce currently offers Housekeeping, Chores, Pet Care, and Laundry to residents at more than 2,300 select apartment communities throughout the country. Through the app, customers are able to quickly book services from certified, insured, and background-checked professionals. This announcement follows a year of growth for the company. In just the last few months, Spruce has announced three major new partnerships and added the Twin Cities metropolitan area and Jacksonville, FL to its roster of U.S. markets. the company also recently launched a new vertical: a full-service Short-Term Rental turnover solution. It initially entered the Shorter-Term Rental market through its national partnership with RealPage and has expanded its offering to include customized turnovers, inventory management, and linen management. The company is fully-distributed, but will also be expanding its Austin headquarters in order to accommodate this latest influx of staff. * Pho has been a director on the Spruce board for nearly two years and will now bring his experience from leading companies like Favor Delivery and RetailMeNot to Spruce. Founder and current CEO Ben Johnson will assume the role of President. Manish Narula of SoftBank Corp. will also be joining the Spruce board as an observer, providing insight for the company’s expansion. FinSMEs 19/07/2022

Fitz Gate Ventures Investments

19 Investments

Fitz Gate Ventures has made 19 investments. Their latest investment was in Spruce as part of their Series B on July 7, 2022.

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Fitz Gate Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/19/2022

Series B

Spruce

$26M

No

5

6/9/2022

Seed VC - II

Realworld

$3.2M

No

2

5/27/2022

Unattributed

Mint State Labs

$0.25M

Yes

1

4/19/2022

Series A - IV

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$99M

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10

2/4/2022

Series A

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$99M

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10

Date

7/19/2022

6/9/2022

5/27/2022

4/19/2022

2/4/2022

Round

Series B

Seed VC - II

Unattributed

Series A - IV

Series A

Company

Spruce

Realworld

Mint State Labs

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Amount

$26M

$3.2M

$0.25M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Sources

5

2

1

10

10

Fitz Gate Ventures Portfolio Exits

1 Portfolio Exit

Fitz Gate Ventures has 1 portfolio exit. Their latest portfolio exit was Uplevel Security on July 01, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/1/2019

Acquired

$99M

1

Date

7/1/2019

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

1

Fitz Gate Ventures Fund History

2 Fund Histories

Fitz Gate Ventures has 2 funds, including Fitz Gate Ventures II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/5/2020

Fitz Gate Ventures II

Early-Stage Venture Capital

Open

$25M

3

8/17/2017

Fitz Gate Ventures

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$99M

10

Closing Date

5/5/2020

8/17/2017

Fund

Fitz Gate Ventures II

Fitz Gate Ventures

Fund Type

Early-Stage Venture Capital

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Status

Open

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Amount

$25M

$99M

Sources

3

10

Fitz Gate Ventures Team

2 Team Members

Fitz Gate Ventures has 2 team members, including current Founder, General Partner, Jim Cohen.

Name

Work History

Title

Status

Jim Cohen

Founder, General Partner

Current

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Name

Jim Cohen

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Work History

Title

Founder, General Partner

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Status

Current

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