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Vegas Tech Ventures, now operating as VTF Capital, is a Las Vegas-based seed-stage venture fund established in 2011 as part of Tony Hsieh's Downtown Project. The fund was initially seeded with $50 million and aimed to build a tech ecosystem in Downtown Las Vegas. Following the passing of Hsieh in November 2020, the organization rebranded and shifted its investment focus towards commerce and commerce technology on a national scale.
Currently, VTF Capital manages approximately $48 million in assets under management (AUM) and has made over 126 investments since its inception. The firm primarily invests in early-stage technology companies, particularly in sectors such as software, hardware, and digital media. While it maintains a connection to Las Vegas, its investment strategy has expanded to include opportunities across the United States.
VTF Capital invests in early-stage technology companies, specifically targeting sectors such as software as a service (SaaS), commerce, and digital media. The firm focuses on pre-seed, seed, seed-plus, and Series A stages, with check sizes ranging from $200,000 to $1 million. Although the organization has a strong preference for companies based in or connected to Las Vegas, it has broadened its geographic focus to include national opportunities in commerce technology.
The investment thesis of VTF Capital centers on the future of commerce, exploring how products are made, distributed, and accessed. The firm seeks to partner with founders who demonstrate a clear vision and potential for growth in the commerce sector. VTF Capital provides strategic guidance and access to a network of industry connections, helping startups navigate the complexities of the commerce landscape.
VTF Capital has built a diverse portfolio of 126 companies, showcasing its commitment to supporting early-stage technology startups. Notable portfolio companies include:
Additionally, VTF Capital has invested in The Mill, a Las Vegas startup accelerator that supports local entrepreneurs. This diverse portfolio reflects the firm's focus on innovative solutions within the commerce technology sector.
Zach Ware - Managing Partner; one of the original co-founders of the Downtown Project alongside Tony Hsieh. He has extensive experience in building tech ecosystems and supporting early-stage startups.
Will Young - General Partner; brings a wealth of experience in venture capital and startup development, contributing to the firm's investment strategy and portfolio management.
Fred Mossler - Early co-founder with a notable background at Zappos, where he played a significant role in the company's growth and success. His expertise lies in retail and e-commerce.
Tony Hsieh - Founder (deceased November 2020); former CEO of Zappos and a key figure in the establishment of the Downtown Project, which laid the groundwork for the firm's initial focus.
To pitch VTF Capital, founders should visit their website at vegastech.vc. The firm prefers pitches that include a clear business model, market opportunity, and potential for growth in the commerce sector. Founders should be prepared to provide detailed information about their startup's connection to Las Vegas, as this is a key consideration for the firm.
While there is no specific application form mentioned, a well-structured pitch deck is essential. Founders can expect a response within a few weeks, depending on the volume of inquiries.
In November 2020, Tony Hsieh, the founder of Vegas Tech Ventures, passed away, leading to a rebranding of the firm to VTF Capital. This transition marked a significant shift in the firm's investment thesis towards a national focus on commerce technology.
Since its inception, VTF Capital has made over 126 investments, demonstrating its commitment to supporting early-stage technology startups. The firm continues to operate under the leadership of Zach Ware and Will Young, who have maintained the organization's focus on innovation and strategic guidance for portfolio companies.
What are the investment criteria for VTF Capital?
VTF Capital primarily invests in early-stage technology companies, focusing on sectors such as SaaS, commerce, and digital media. The firm looks for startups that are either based in Las Vegas or have a connection to the region, although it has expanded its geographic focus to include national opportunities.
How can founders apply or pitch to VTF Capital?
Founders interested in pitching to VTF Capital can visit their website at vegastech.vc. The firm encourages startups to provide a clear vision and demonstrate potential for growth in the commerce sector.
What makes VTF Capital different from other venture funds?
VTF Capital has a unique heritage tied to Tony Hsieh's Downtown Project, which initially aimed to build a tech ecosystem in Las Vegas. The firm has a strong focus on commerce technology and provides strategic guidance and access to a network of industry connections, helping startups navigate the complexities of the commerce landscape.
What is the geographic scope of VTF Capital's investments?
While VTF Capital has a strong preference for companies with ties to Las Vegas, it has broadened its investment strategy to include opportunities across the United States, particularly in the commerce technology sector.
What is the typical fund size and check size for VTF Capital?
VTF Capital manages approximately $48 million in assets under management (AUM) and typically invests between $200,000 and $1 million in each startup.
What kind of post-investment involvement does VTF Capital have?
VTF Capital provides value to its portfolio companies through strategic guidance, access to a network of industry connections, and support in navigating the complexities of the commerce landscape. The team’s experience and focus on innovation help startups thrive in a competitive environment.
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