It’s a bit more money than other successful two-partner VC firms have raised for their first funds — First Round Capital, Union Square Ventures, etc. — but that largely reflects this era’s increased deal sizes. The investment strategy is to help alleviate he so-called Series A crunch, by either leading Series A rounds or partnering with larger firms.

“We’re targeting $2 million to $5 million checks, but wanted to be small enough to also be able to work with a bigger platform firm if it’s a $10 million round — and there are a lot more of those now than there used to be,” Gouw explains. “We’ll also devote around 20% of the fund to seed deals with the intention of then leading the A round.”

Targeted companies will focus on mobility, whether that be via an app, mobile security or elsewhere down in the infrastructure layers.

The two partners already have backed around a dozen companies — including BaubleBar, ForeScout, The Muse, Birchbox and UrbanSitter — with their own money, and will contribute those portfolio companies to the fund.

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