Coming off the success of their pilot fund that included pre-seed and seed stage bets in Petalcard (now at Series D), Squire (Series D), Burrow (Series C), Mai (Series A), Trigger (Acquired by Circle) and Gitlinks (Acquired by Infor), New York-based NOEMIS Ventures just closed its debut fund with $25 million in total commitments.
NOEMIS Ventures was founded by Simeon Iheagwam, who built the pilot fund with his own life savings after a 10-year career spanning tech, corporate finance and investment banking from top financial services firms J.P. Morgan and Wells Fargo. NOEMIS Ventures aims to invest in and support founders in the fintech, marketplaces, artificial intelligence and machine learning industries, who are looking to impact change in the world. The firm deploys its investment framework for assessing companies at the pre-seed or seed stage, regardless of revenue, according to a press release.
“We wanted to build a firm that stays disciplined in our strategy and is not afraid to roll up our sleeves to support the needs of our founders,” says Simeon, Founder and Managing Partner at NOEMIS Ventures.
“We are excited to continue backing founders who are implementing technology to change lives and improve efficiency. The NOEMIS team is just getting started.”
With the new fund, NOEMIS Ventures plans to invest in 25 to 30 companies, with investments of up to $500K at the pre-seed or seed stage. The team has already made 12 investments in the new fund across the three industries, including three award companies in the portfolio.
“Simeon saw my vision before anyone else did, and then he joined to help us go from 0 to 1,” explains Carmelle Cadet, Founder and CEO of EMTECH.
“Now more than ever, he is a true partner to us, and we are looking forward to our collaboration for the years to come.”
NOEMIS Ventures is now backed by a strong investor base that includes large corporates, top financial institutions, domestic and international family offices, and high net worth individuals. Investors include Alphabet, Bain Capital Ventures, Bank of America, Carta, The Equity Alliance, Insight Partners, Motley Fool Ventures and PayPal.