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Cherubic Ventures is a global seed-stage venture capital fund founded in 2014. The firm operates from multiple locations, including San Francisco, Tokyo, Taipei, and Shanghai. Cherubic Ventures focuses on investing in pre-product/market fit startups, partnering with talented founders to support them from the early stages of their entrepreneurial journey to growth.
As of now, Cherubic Ventures manages over $400 million in assets across multiple funds, with Fund V being the first to exceed $100 million, totaling $110 million. The firm has invested in over 150 companies globally since its inception, achieving 10 unicorns and 27 successful exits. Notable milestones include the IPO of Hims & Hers in January 2021 and the acquisition of Paidy by PayPal for $2.7 billion.
Cherubic Ventures invests in early-stage startups primarily located in Greater China and the United States. The firm is sector-agnostic, considering any company enabled by technology. Their typical investment size ranges from $500,000 to $1 million, and they often lead deals or co-invest alongside other investors. Cherubic Ventures has a notable thesis around supporting Chinese entrepreneurs expanding internationally and diaspora founders returning with global experience.
The firm actively seeks technology-enabled companies across various sectors, including consumer technology, healthcare, enterprise solutions, and blockchain. Cherubic Ventures emphasizes the importance of partnering with founders who are at the pre-product/market fit stage, providing them with the necessary resources and support to navigate their early growth phases.
Cherubic Ventures has a diverse portfolio of notable companies, including:
Other notable investments include Astranis, a satellite internet company, and Photomath, a math education platform acquired by Google. Cherubic Ventures also has a presence in the crypto/Web3 space, with investments in ANZ and Terminal 3.
Matt Cheng: Founder & Managing Partner. Matt is a serial entrepreneur who co-founded Tian-Ge in China and 91APP in Taiwan, both achieving over $1 billion in market cap. He started Cherubic Ventures after overcoming initial skepticism from potential LPs.
Tina Cheng: Partner. Tina is one of the earliest team members at Cherubic Ventures, responsible for driving new investments and leading portfolio management globally. She has led significant deals, including Calm and Hahow.
Danielle Dudum: Partner. Danielle brings extensive experience in venture capital and has been instrumental in sourcing and managing investments.
Pierre Arys: Partner. Pierre focuses on identifying promising startups and supporting them through their growth phases.
Snow Hua: Partner / Investor Relations. Snow manages investor relations and helps maintain strong connections with limited partners.
To pitch Cherubic Ventures, founders should send an email to bp@cherubic.com. It is essential to include a comprehensive pitch deck that outlines the business model, market opportunity, and team qualifications. The firm prefers detailed information on the startup's traction and future plans. Response times may vary, but founders can expect to hear back within a few weeks.
Warm introductions are highly recommended, as they can significantly increase the chances of getting noticed by the investment team.
In May 2024, Cherubic Ventures participated in a $4 million seed round for ANZ, focusing on the DeFi/Base ecosystem. Additionally, they invested $8 million in Terminal 3, a data infrastructure startup. The firm has achieved significant milestones, including the IPO of Hims & Hers in January 2021, which marked one of the fastest-growing healthcare startups in the US.
As of 2023, Cherubic Ventures has invested in over 150 portfolio companies, achieving 10 unicorns and 27 successful exits. Their recent focus includes investments in the crypto/Web3 space, indicating a strategic interest in emerging technologies.
What are Cherubic Ventures' investment criteria?
Cherubic Ventures focuses on early-stage startups that are technology-enabled and primarily located in Greater China and the United States. They look for companies that are at the pre-product/market fit stage.
How can I pitch to Cherubic Ventures?
Founders can pitch to Cherubic Ventures by sending an email to bp@cherubic.com. It is advisable to include a detailed deck outlining the business model, market opportunity, and team background.
What makes Cherubic Ventures different from other VCs?
Cherubic Ventures has a unique dual-region approach, targeting both the US and Asia. They are known for being
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