Image (1) aspect_fonstad_gouw.jpg for post 457709
Jennifer Fonstad (left) and Theresia Gouw (right)

Aspect Ventures raises $150 million for first fund

May 14, 2015

Aspect Venture Partners, the VC firm formed last year by Jennifer Fonstat (ex-DFJ) and Theresia Gouw (ex-Accel Partners), has closed its debut fund with $150 million in capital commitments.

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.

Get Term Sheet, our daily newsletter on deals and deal-makers.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions