Venture capital firm ONEVC has successfully closed its third fund at a $50 million hard cap, signaling strong investor confidence in its early-stage investment strategy. The new fund was significantly oversubscribed and coincides with the promotion of two key team members, Rodrigo Parsequian Cartolano and Carla Barone. This development positions ONEVC to continue backing innovative founders, with a notable early focus on artificial intelligence.
Strong Investor Confidence and Oversubscription
The fundraising journey for Fund III began in mid-2023 with an initial target of $40 million. Due to robust demand from limited partners, the firm increased its goal to a $50 million hard cap, which was ultimately oversubscribed by 25%. This achievement underscores the market's trust in ONEVC's track record and investment thesis.
A diverse and global group of investors contributed to the new fund, led by a substantial commitment from a U.S. institute managing an endowment of over $30 billion. Brazilian asset manager Spectra also made a significant investment, accounting for approximately 10% of the total capital. The fund also attracted capital from corporate ventures and family offices across Europe and Asia.
Investment Strategy and AI Focus
ONEVC will continue its established strategy of building a concentrated portfolio of early-stage companies, a thesis proven with its previous funds. While the fund maintains a generalist approach, General Partner Bruno Yoshimura noted that the firm follows exceptional founders, who are increasingly building with AI. This founder-centric model allows the firm to remain agile and invest in the most promising technological shifts.
The new fund has already deployed capital into three startups, all of which leverage artificial intelligence at their core. The first disclosed investment is FlyMedia, a company creating AI-powered digital influencers for global content creation. The other two investments, currently undisclosed, are in the developer tools and health sectors, further signaling the fund's AI-centric start.
Newly appointed General Partner Rodrigo Cartolano acknowledged that AI-native startups often command valuations twice as high as their non-AI counterparts. He explained that this premium is justified by their potential for rapid scaling and easier entry into large enterprise markets. The firm believes the potential for larger exits validates the higher entry valuations in this transformative sector.
Leadership Promotions and Firm Growth
In conjunction with the fund's closing, ONEVC announced the promotion of Rodrigo Parsequian Cartolano to General Partner. He will now officially co-lead the firm alongside Bruno Yoshimura, a role he has effectively been performing since joining in 2021. His contributions have been instrumental in firm building, investing, and founder support.
The firm also promoted Carla Barone to Partner in recognition of her significant impact on portfolio companies. Since joining in 2022 to lead portfolio support, she has been pivotal in helping founders with talent acquisition and operational guidance. Her promotion reinforces ONEVC's commitment to providing hands-on support, reflecting its operator-led culture.
The successful close of its $50 million Fund III and the strengthening of its leadership team mark a significant milestone for ONEVC. With fresh capital and a clear focus, the firm is well-equipped to navigate the evolving tech landscape and back the next generation of market-defining startups. This strategic positioning reinforces ONEVC's role as a key player in the early-stage venture ecosystem.