Propel Venture Partners Announces $100M Fund V

Gunderson Dettmer represented client Propel Venture Partners in the formation of its $100 million Fund V. Propel Venture Partners is a seed-stage venture firm that invests in visionary founders that are revolutionizing money, reinventing financial services and creating technology that transforms traditional institutions.

Since its founding in 2016, Propel has raised over $436 million to invest in 62 industry-leading companies such as Coinbase, Docusign, Groww, Guideline, Neon and Newfront.

With the new fund, Propel will further scale its approach to investing in areas where technology and financial services converge. To date, Propel’s Fund V has made five new investments, including AI-native companies for financial planning and analysis, payment processing and energy infrastructure.

In the announcement of the fund, Propel Venture Partners founder and General Partner Jay Reinemann said, “The disequilibrium between financial services incumbents’ technology needs and their ability to quickly innovate creates ample opportunities for startups, no matter the economic climate. Propel helps execution-focused founders build enduring businesses that rethink how financial value is created, moved and secured. Our portfolio companies consider us true partners and confidants, and we’re committed to helping them shoulder the burden when challenges inevitably arise.”

The Gunderson deal team was led by Nick Guttilla.

Companies
Propel Venture Partners