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- Ulu Ventures Raises $208M for Fourth Fund, Strengthening Latina-Led VC Presence
Ulu Ventures Raises $208M for Fourth Fund, Strengthening Latina-Led VC Presence

Ulu Ventures, a top seed-stage Silicon Valley firm, is the largest Latina-led fund in the U.S. and focuses on high-growth, market-leading information technology and internet companies.
Ulu raised $208M for Fund IV, an increase of more than fifty percent over Fund III’s $138M. This latest fund also doubles Ulu’s assets under management to over $400M AUM.
Institutional Investors Backing Fund IV
Ulu's institutional investors comprise a wide array of LPs. Twelve foundations, including the John D. and Catherine T. MacArthur Foundation, Ford Foundation, CalWellness Foundation, and Marguerite Casey Foundation, invested in Fund IV. A Southern California public pension is a repeat investor along with many other Ulu LPs.
Fund-of-funds like GCM Grosvenor, as well as leading Black- and women-led firms such as Fairview Capital and Illumen Capital extend the investor pool. Family offices are well-represented, including Pivotal Ventures, Verdis Investments, Gingerbread Capital, and Hunt Holdings. Two higher-education endowments, including one from a Boston-based college, participated.
The investor base is enriched by corporate and financial institutions, notably Citi Impact Fund, MassMutual through its First Fund Initiative, venture firm Motley Fool Ventures, and mission-based investors such as Mercy Investment Services.
A Data-Driven Investment Approach
“The caliber of institutional investors supporting Fund IV is exceptional. We are honored that they recognize Ulu’s disciplined data-driven investment thesis reduces cognitive bias while driving returns. We’ve been funding teams that bring together entrepreneurs with varied backgrounds, expertise, and life experiences for more than 15 years and they’ve proven to be highly successful,” said CEO, Co-founder, and Managing Director Miriam Rivera.
“We remain confident in Ulu Ventures’ ability to access top-tier deal flow and deliver strong returns for investors,” said Jessica Holsey, Managing Director, GCM Grosvenor, an investor in two of Ulu’s funds, including Fund IV.
A Track Record of Success
Ulu has ten unicorns in its portfolio, including Guild Education, BetterUp, Figure, Provenance, ZUM, Homelight, and Everlaw. Exited companies include SoFi (traded on NASDAQ), Krux (sold to Salesforce), and Palantir. Palantir is traded on NASDAQ and joined the S&P 500 in October 2024.
Ulu Ventures’ latest fund underscores its continued growth and impact in the venture capital ecosystem. As one of the most prominent Latina-led firms in the U.S., its disciplined approach and impressive portfolio demonstrate the power of diverse leadership in driving innovation and returns.
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