Inspired Capital closes $450M fourth fund as New York pushes back on Silicon Valley’s gravitational pull
Inspired Capital, the early-stage firm founded in 2019 by Alexa von Tobel and Penny Pritzker, has closed its fourth fund with $450 million in commitments. The new capital will bring the firm’s assets under management to nearly $1.4 billion, von Tobel tells TechCrunch.
The raise comes as venture dollars are piling up on the West Coast. Between 2020 and the end of 2025, the Bay Area had raised $352 billion for VC funds — roughly 46% of all U.S. venture capital, according to PitchBook. Last year, that percentage shot up even higher, with Bay Area firms locking down 55% of the total new commitments to U.S. venture funds.
New York-based Inspired’s new fund is a reminder that capital is accruing elsewhere, too. In fact, Inspired is growing: it closed a $330 million third fund in early 2024, following a $281 million second fund and its $200 million debut fund.
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