Trae Vassallo, the former Kleiner Perkins investor whose deals included Nest Labs and Dropcam, has quietly launched a new venture capital firm called Defy.vc, Fortune has learned from multiple sources.
Her partner is Neil Sequeria, a former Bay Area partner with General Catalyst whose deals included Jessica Alba’s The Honest Company. There had been reports last fall that Sequeria was planning to launch a solo firm, and it is unclear exactly when he and Vassallo partnered up.
Defy.vc is seeking to raise around $150 million for its debut fund, which will focus on early-stage connected software companies. Expected a first and final close in September.
Vassallo declined to comment, when reached via phone.