Gunderson Dettmer represented client Cowboy Ventures in the closing of two new funds, Cowboy Ventures Fund IV and Cowboy Mustang Fund I, its first opportunity fund. Combined, the new funds have committed capital totaling $260 million to invest in pre-product startups and follow-on opportunities in Cowboy’s breakout winners.

In the announcement of the fund formation, partner at Cowboy Ventures Amanda Robson said, “We have seen a lot of incremental ideas, and this was especially true in the second half of last year. But with budgets constrained and the bar higher regarding the value you have to provide [your customers], we think we’re going to see far better ideation as this year goes on and the dust settles on what the new normal for the environment is.” Cowboy Ventures invests in enterprise and consumer startups. The firm is focused on the bottom line, but also likes backing diverse founders and companies that have a positive impact on their community. As founder Aileen Lee said, “We’re not a social impact fund, but we get out of bed every day a little bit excited to prove that you can be great at this job and also be a thoughtful human being at the same time.”

The Gunderson Dettmer deal team included partners Steve Franklin, Christi Niehans Frentz, Brian Huber and Olga Zolotnik, associates Luke Charette and Garabed Koosherian, and paralegal Angel Chan.

Company
Cowboy Ventures