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Recast Capital is a women-owned venture capital platform founded by Courtney McCrea and Sara Zulkosky. Established to enhance diversity within the venture capital industry, Recast Capital operates as a fund of funds, investing in emerging managers, particularly those from underrepresented groups. The organization has its headquarters in San Francisco, California, with additional offices in Washington, D.C., and New York City. Recast Capital aims to create a more inclusive venture capital landscape by providing capital to diverse fund managers and running programs that support the next generation of venture capitalists.
The firm focuses on U.S.-based emerging managers raising their first, second, or third institutional funds. Recast Capital emphasizes the importance of unique lived experiences as a competitive advantage in the venture capital market. The organization has welcomed 109 funds into its Enablement Program, with a significant percentage led by women and people of color. This commitment to diversity is reflected in their investment strategy and operational practices.
Recast Capital invests in emerging managers across various sectors, including fintech, healthcare, climate, AI, consumer, commerce, food-agtech, biotech, edtech, and govtech. The firm primarily targets seed and Series A stages, focusing on funds led by women and people of color. Their investment strategy is designed to support diverse general partners, enhancing the capabilities of these managers through resources and programs.
The organization prioritizes partnerships with individuals who possess unique lived experiences, believing that this diversity leads to better investment outcomes. Recast Capital's Enablement Program provides tuition-free support for emerging fund managers, focusing on firm-building and fundraising strategies. This dual role as both an investor and capacity builder distinguishes Recast Capital in the venture capital landscape.
Recast Capital has supported a diverse array of notable portfolio companies through its Enablement Program, which includes:
This diverse portfolio reflects Recast Capital's commitment to supporting underrepresented founders and managers across various sectors.
Courtney McCrea: Co-Founder & Managing Partner. Courtney has a robust background in venture capital, having served as Managing Director at Weathergage Capital for ten years, where she made 100 fund commitments. She was also a General Partner at Weston Presidio for seven years and founded Silver Partners. Courtney holds an MBA from Kellogg and a BA in Economics from the University of Illinois. She is a Kauffman Fellows Class 3 graduate.
Sara Zulkosky: Co-Founder & Managing Partner. Sara has extensive experience in venture capital, previously serving as a Venture Partner at Greenspring Associates, which manages $12 billion in assets. She was also a Principal at CNF Investments and Director of Product Management at SkyBuilt Power. Sara earned her MBA from Georgetown and holds a Master’s in Engineering Management and a Bachelor’s in Mechanical Engineering from George Washington University. She is a Kauffman Fellows Class 23 graduate.
To pitch Recast Capital, founders should visit their website and submit inquiries through the contact form. It is advisable to include a detailed pitch deck that outlines the business model, market opportunity, and team composition. Recast Capital values warm introductions but also accepts direct applications.
Response times may vary, but founders can expect to hear back within a few weeks. It is essential to clearly articulate how the startup aligns with Recast Capital's focus on diversity and emerging managers.
Recast Capital runs the **Recast Enablement Program**, which is a tuition-free initiative designed to support emerging fund managers in firm-building and fundraising strategies. The program typically hosts cohorts of about a dozen participants, focusing on increasing diversity in venture capital.
Additionally, the **Recast Accelerate** program, launched in 2023, supports women and nonbinary-led early-stage U.S. funds. This program provides resources such as IR support, pitch refinement, and access to a network of service providers. Interested participants can apply through the Recast Capital website.
In 2023, Recast Capital launched the **Recast Accelerate** program, aimed at supporting women and nonbinary-led early-stage U.S. funds. This cohort-based initiative provides resources such as investor relations support, AI automation, pitch refinement, and executive coaching. The third cohort, set for Fall 2025, will include 18 funds across various sectors, including AI, climate, and health & wellness.
As of the latest data, Recast Capital has welcomed 109 funds into its Enablement Program, with 79% led by at least one GP identifying as a woman or non-binary and 62% led by at least one GP of color. This demonstrates the firm's commitment to enhancing diversity within the venture capital industry.
What are Recast Capital's investment criteria?
Recast Capital focuses on investing in emerging managers, particularly those led by women and people of color. They prioritize funds in the seed and Series A stages across various sectors, including fintech, healthcare, and climate.
How can I apply or pitch to Recast Capital?
Founders and fund managers can contact Recast Capital through their website for inquiries related to pitches or applications. They encourage diverse emerging managers to reach out.
What makes Recast Capital different from other venture capital firms?
Recast Capital operates as a fund of funds while also running programs to support emerging managers. Their focus on enhancing diversity within the venture capital industry sets them apart.
What is Recast Capital's geographic scope?
The firm primarily invests in U.S.-based emerging managers, focusing on those raising their first, second, or third institutional funds.
What kind of post-investment involvement does Recast Capital have?
Recast Capital adds value through its Enablement Program, which provides resources such as IR support, pitch refinement, and access to a network of service providers to enhance the capabilities of diverse fund managers.
What is the size of Recast Capital's funds or check sizes?
Specific quantitative metrics such as fund size or check sizes are not publicly disclosed, but Recast Capital focuses on supporting emerging managers in their fundraising efforts.
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