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Venture Capital
FINANCE | Investment Firms & Funds
mathventurepartners.com

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Investments

53

Portfolio Exits

8

Funds

2

Service Providers

1

About MATH Venture Partners

MATH Venture Partners is an early to middle-stage fund managed by a seasoned team of hand's-on investors and operators. The fund focuses on entrepreneurial teams who have a deep appreciation and exceptional talent built into their core DNA around customer acquisition. MATH forms deep and personal partnerships with entrepreneurs. Our team has built and scaled many large companies to successful exits.

MATH Venture Partners Headquarter Location

222 West Merchandise Mart Plaza Suite 1212

Chicago, Illinois, 60654,

United States

312-404-4555

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Latest MATH Venture Partners News

Chingona Ventures lands $52M to fund overlooked founders in massive markets

May 7, 2022

Chingona Ventures , a three-year-old, Chicago-based venture outfit that invests in pre-seed startups, primarily in the Midwest and primarily founded by overlooked individuals who are focused on massive markets, has closed a new fund with $52 million in capital commitments. Limited partners in the new fund include PayPal Ventures, Norwest Venture Partners, Melinda Gates’s Pivotal Ventures, Foundry Group, and the Office of the Illinois State Treasurer’s Illinois Growth and Innovation Fund, among others. It’s a huge step up from the outfit’s $6 million debut fund and a sign of confidence in Samara Hernandez, an engineer who spent six years at Goldman Sachs before joining the venture firm Math Venture Partners in 2015 as an investor and then striking out on her own in 2019 with Chingona, where she remains the firm’s sole general partner. While it’s a little too early to judge the success of her portfolio, Hernandez has been active, managing to work checks of between $100,000 and $250,000 into 27 companies with that first fund, and investing in eight more with her second effort. Among these portfolio companies is Career Karma , a four-year-old startup that matches employees and contractors to job training programs in the marketplace (and that raised $40 million in January) and Suma Wealth , a financial wellness platform for the Latino community that has raised $6.6 million to date, per Crunchbase data. Both startups underscore Chingona’s areas of interest, which include fintech startups, as well as startups focused on health and wellness, food tech, and the future of learning. They also play to Hernandez’s strengths, including an understanding of the massive and growing Latino market in the case of Suma Wealth. (Hernandez, who was born in Mexico and raised in the U.S., notes that one of every four kids being born today in the U.S. is Latino yet that Latinx companies still attract less than 1% of venture capital funding in this country.) She is also willing to back founders who’ve heard no from other backers, as with Ruben Harris, the cofounder of Career Karma. Though Harris and his cofounders had passed through Y Combinator, he had a network, and he lived, at the time, in Silicon Valley, he reached out to Hernandez cold over Twitter after countless other meetings where he was passed over. “They didn’t believe his strategy but I believed in him so I ended up investing,” says Hernandez. (Career Karma earlier this year expanded on its initial strategy, which was to help aspiring students and working professionals navigate their way to the right bootcamp. Harris also recently moved to Miami from the Bay Area.) Indeed, with far more capital at her disposal, Hernandez says the plan is to do more of the same, with slightly larger checks, ranging from $250,000 to $1 million. Chingona — a Spanish word for a woman who is fearless and gets things done, says Hernandez — wants to “be the first and largest check into a round,” she says. “What I realized with fund one is that a lot of these founders really need someone to lead and to write the biggest check and help catalyze the round.” With investors like PayPal and Insight now looking to her for some of their deal flow, she’s more than happy to lead the way.

MATH Venture Partners Investments

53 Investments

MATH Venture Partners has made 53 investments. Their latest investment was in Virtuous as part of their Unattributed VC on March 3, 2022.

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MATH Venture Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/8/2022

Unattributed VC

Virtuous

$2.38M

No

1

11/15/2021

Seed VC

QuickHire

$1.41M

Yes

5

8/10/2021

Seed VC

TeamGenius

$1.1M

Yes

2

7/30/2021

Series B

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$99M

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10

6/30/2021

Series B

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$99M

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10

Date

3/8/2022

11/15/2021

8/10/2021

7/30/2021

6/30/2021

Round

Unattributed VC

Seed VC

Seed VC

Series B

Series B

Company

Virtuous

QuickHire

TeamGenius

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Amount

$2.38M

$1.41M

$1.1M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

1

5

2

10

10

MATH Venture Partners Portfolio Exits

8 Portfolio Exits

MATH Venture Partners has 8 portfolio exits. Their latest portfolio exit was 2ndKitchen on December 07, 2021.

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

12/7/2021

Acquired

2

8/11/2021

Acquired

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10

4/27/2021

Acquired

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$99M

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10

7/7/2020

Acquired

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$99M

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10

12/18/2019

Acquired

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10

Date

12/7/2021

8/11/2021

4/27/2021

7/7/2020

12/18/2019

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

2

10

10

10

10

MATH Venture Partners Fund History

2 Fund Histories

MATH Venture Partners has 2 funds, including Math Venture Partners II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/19/2019

Math Venture Partners II

Early-Stage Venture Capital

Closed

$44M

6

4/2/2015

Math Venture Partners

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$99M

10

Closing Date

4/19/2019

4/2/2015

Fund

Math Venture Partners II

Math Venture Partners

Fund Type

Early-Stage Venture Capital

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Status

Closed

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Amount

$44M

$99M

Sources

6

10

MATH Venture Partners Service Providers

1 Service Provider

MATH Venture Partners has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

MATH Venture Partners Team

3 Team Members

MATH Venture Partners has 3 team members, including current Managing Director, Mark Achler.

Name

Work History

Title

Status

Mark Achler

Redbox, Emmi Solutions, Kettle Partners, SPSS, and Apple

Managing Director

Current

Troy Henikoff

Managing Director

Current

Dana Zachgo Wright

Managing Director

Current

Name

Mark Achler

Troy Henikoff

Dana Zachgo Wright

Work History

Redbox, Emmi Solutions, Kettle Partners, SPSS, and Apple

Title

Managing Director

Managing Director

Managing Director

Status

Current

Current

Current

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