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Core Innovation Capital is a venture capital firm founded in 2009 and headquartered in Los Angeles, California. The firm focuses on investing in companies that aim to modernize financial services and improve access to wealth and health for the mass market. With a strong emphasis on financial inclusion, Core Innovation Capital seeks to create value in complex and regulated markets that are overdue for reinvention.
As of now, Core Innovation Capital manages over $200 million in assets across three funds. The firm primarily invests in Seed to Series A stages, with check sizes ranging from $1 million to $5 million. Core Innovation Capital has established itself as a key player in the fintech sector, particularly in addressing the needs of underserved consumers.
Notable milestones include successful investments in companies like Chime, Oportun, and Dave, which have significantly impacted the financial services landscape. The firm operates with a mission to enhance financial inclusion and has built a reputation for its expertise in navigating complex regulatory environments.
Core Innovation Capital primarily invests in Seed to Series A companies, focusing on sectors that are often overlooked, including fintech, healthcare, insurance, real estate, and work. The firm targets innovative solutions that address the needs of underserved populations, emphasizing the importance of financial inclusion in its investment strategy.
Investment sizes typically range from $1 million to $5 million, allowing the firm to support early-stage companies with significant growth potential. Core Innovation Capital's thesis revolves around modernizing financial services and improving access to wealth and health for the mass market. The firm actively seeks startups that can create transformative social impact by addressing the challenges faced by underserved consumers.
Core Innovation Capital's approach includes providing strategic guidance, industry connections, and support in navigating complex regulatory environments. This value-add strategy helps portfolio companies scale and succeed in the market, aligning with the firm's mission to create value in transformative markets.
Core Innovation Capital has a diverse portfolio of companies that reflect its focus on fintech and healthcare. Notable portfolio companies include:
Other companies in their portfolio include Chime, Oportun, and Dave, which have achieved notable exits and valuations, further solidifying Core Innovation Capital's reputation in the venture capital space.
Arjan Schütte: Founder & Managing Partner. Arjan has extensive experience in venture capital and has led notable investments in fintech companies focused on financial inclusion.
Zev Wexler: CFO and General Counsel. Zev oversees financial operations and legal matters, ensuring compliance and strategic financial management.
Edwin (Loredo) Andrade: Partner. Edwin brings expertise in investment strategy and has a background in supporting early-stage companies.
David Roos: Partner. David focuses on identifying and evaluating investment opportunities within the fintech sector.
Susan Ehrlich: Partner. Susan has a strong background in financial services and contributes to the firm's investment strategy and portfolio management.
Erinn Bisping: VP of Investor Relations. Erinn manages relationships with limited partners and supports fundraising efforts.
To pitch to Core Innovation Capital, founders should visit corevc.com for more information. The firm prefers pitches that include a clear overview of the business model, market opportunity, and the social impact of the solution. Founders can expect a response within a few weeks, and warm introductions are encouraged to enhance the chances of engagement.
On March 1, 2023, Core Innovation Capital announced a new investment in Klover, a platform that helps users cover small dollar needs. This investment aligns with the firm's focus on enhancing financial inclusion.
In January 2023, Core Innovation Capital participated in a funding round for HealthSherpa, further expanding its portfolio in the healthcare sector.
Core Innovation Capital also reported a successful exit from Oportun, which went public in 2022, showcasing the firm's ability to identify high-potential companies.
What are Core Innovation Capital's investment criteria?
Core Innovation Capital invests in Seed to Series A companies, focusing on sectors like fintech and healthcare. They look for innovative solutions that address the needs of underserved populations.
How can I apply or pitch to Core Innovation Capital?
Founders can pitch their ideas by visiting corevc.com. They can also reach out via email to Arjan Schütte at arjan@corevc.com.
What makes Core Innovation Capital different from other VCs?
The firm emphasizes financial inclusion and targets often overlooked sectors, aiming to create transformative social impact through its investments.
What is the geographic scope of Core Innovation Capital's investments?
Core Innovation Capital primarily invests in North America, specifically the United States.
What is the typical check size for investments?
Core Innovation Capital typically invests between $1 million and $5 million in its portfolio companies.
What kind of post-investment involvement does Core Innovation Capital have?
The firm provides strategic guidance, industry connections, and support in navigating regulatory environments to help portfolio companies scale and succeed.
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