Four years after the launch of VC, the GTMFUND founder and the Max Altschuller general collected a second fund worth $ 54 million. It was aimed at 50 million dollars.
GTMFUND is one of the increased crops of “LED” boxes, which means that limited partner investors are the people who have worked, or currently working, in successful technology companies (known in VC Parlance as “operators”).
“They, most often, are active in their current company, or maybe they just have a tour of a company that moved from zero to a few hundred revenues,” Alschuller told Techcrunch. LPS includes people from places like AWS, Openai, ProCore, Excling and Snowflake.
These LPS are largely experts in marketing and sales, known as Silicon Valley as “Go to Market”, and therefore the name GTMFUND.
In addition to contributing to their money, LPS also helps in directing governor companies in sales strategies – a field in which many startups need help – and with sales representatives. It also helps the fund to find and evaluate young startup companies that deserve to be investigated.
The first fund, which was launched in 2021, had about 250 operators and only two institutional investors. Companies like Ai Composer Conster ($ 1.9 billion in the last increase in November) supported, AI Center Center Tech Atlan (which raised the last $ 105 million with a rating of $ 750 million), and VANTA security (raising $ 150 million with a value of $ 2.45 billion ), Among other things.
With this busy record, you attract Fund II 300 LPS, as well as six institutions including Bain Capital Ventures, Harbourvest, Inovia Capital and Franklin Park.
Altschuller finds itself leading the height box.
This was not actually his initial intention. Altschuller once was the 8th employee in Udemy, where he managed sales during his early days. He later helped start operating Community Saast and advised some startups, then launched his own blog called Sales Hacker, which he sold to communicate in 2018 (although he bought this since then). The angel began to invest, and wrote early checks for Gong and Carbon Health.
People in the large altschuller network are asking him to show how an angel invests. So he decided to try to do this.
He sent an email to a list of GTM people and shared the idea: “What if we collected a million dollars between 20 to 50 of us and put them in 10 companies, then we supported these companies useful?” suggest. And I went to the gangs. It has ended with $ 22 million to the first fund.
You can choose LPS in the box action a lot or less than wanting to help, from silent investment to participating greatly in governor companies. GTMFUND also built community functions: such as the deal flow channel where LPS can chat; It hosts six dinars annually in addition to an annual decline.
“For me, it has become just a work of love. It is very fun.” “I get out of it like our LPS. I love working with all these different founders, all of these different companies to help them in this type of specialized topics for GTM.”
GTMFUND as a player’s box is not common, but it is also not unknown. For example, Mallun Yen established the Collective operator in 2019, which was launched from the gate at $ 45 million, raised $ 92 million in 2022 and also has an enviable portfolio. Another most modern example is the Ashley Mayer coalition, which was launched in 2022 at $ 12.5 million.
As for the second fund of GTMFUND, Alschuller says that the goal is to support about 40 companies in the early stage of SEED, SEED and Series A-with check sizes ranging from half a million and 1.5 million dollars.
