MaC VC Closes $150 Million Fund III, Eyes Global Expansion

MaC Venture Capital (VC) has closed its third fund (Fund III), raising $150 million to bolster its investments in seed-stage technology companies. 

MaC VC Fund III elevates the firm’s total assets under management to $600 million since its inception in 2019. 

Founded by industry veterans Marlon Nichols, Adrian Fenty, and Mike Palank, MaC has made a huge impact in the venture capital space, especially notable for its focus on cultural shifts and behavioural trends.

The increase in capital allows MaC VC to enhance its investment strategy, raising its initial check size to between $2 million and $3 million, up from the previous average of $1.5 million in 2023. 

This change reiterates the firm’s focus on supporting innovative startups with funding at early stages. Noteworthy investments include companies such as Chef Robotics, Stoke Space, and Pipe, which shows a broad interest in diverse technological advancements.

The firm has affirmed its ability to yield impressive returns through successful exits. A prime example is the acquisition of Wonder Dynamics, an AI-driven visual effects company, by Autodesk in 2023, which generated a remarkable 5.4 times return on investment for MaC. 

MaC’s founders bring a wealth of experience from various sectors, including politics, entertainment, and technology. Fenty, the former mayor of Washington D.C., highlighted the firm’s strategic approach, stating, “Our growth has been about backing the right founders and making impactful investments.” 

This multifaceted perspective enables MaC to provide financial support and also strategic guidance tailored to the unique needs of each startup.

In addition to its domestic focus, MaC is expanding its investment reach internationally, with recent moves into the African market, including investments in Nigeria-based Shekel Mobility. 

Nichols noted the importance of seeking talent beyond traditional boundaries, noting, “You have to be deliberate about finding talent outside of your hometown or state.”

MaC VC will continue its mission of identifying and supporting innovative startups across the globe. 

With a vision of creating a sustainable, multi-generational venture firm, the team is focused on delivering exceptional value to its portfolio companies and driving technological advancements.