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Maven's $60M Fund for Consumer Trends

  • Maven Ventures raises $60 million for the fourth fund in consumer tech.
  • Founded in 2013, Maven focuses on consumer AI and personalized medicine.
  • Maven invests $1-1.5 million quarterly in startups and has over 50 investments.

In early 2024, well-known venture capital firms Andreessen Horowitz and Lerer Hypeau announced they were pulling back from consumer tech. This brought about a social media forum regarding the chances of success therein.

Yet, while Jim Scheinman and Sara Deshpande from Maven Ventures propose possibilities, some things could be improved. To demonstrate their legitimate argument, they generated $60 million for a fourth fund's operation committed to "massive consumer tech trends."

In 2013, Scheinman started the company and introduced Deshpande as a critical figure in consumer AI and personalized medicine. The duo recruited investment partner Robert Ravanshenas in 2015 and then again in 2020 with a mind to work in fintech, longevity, and AI for consumers.

Furthermore, the trio continues to be committed to nurturing other consumer tech trends, their involvement gets stronger with AI in healthcare and climate sustainability, family tech, and fintech.

Fund IV raised the fund's total assets to USD 200 million and has more than 50 completed investments. The company invests in six to eight businesses quarterly, start-up with cheques between $1 million and $1.5 million.

Maven has attracted seven new businesses for the latest fund, including Medeloop, Lutra AI, and MultiOn.

The creation of the new fund highlights the importance of its mission of backing unique founders who have a vision of making technology a great lifestyle companion. To this end, Deshpande stated that using AI developments to upgrade consumer experiences is essential.

Edited by Shruti Thapa