A BIG Defy Thank You: We raised Defy II

defy.
defy.
Apr 10 · 2 min read

We wanted to let you know we raised an oversubscribed Defy II at $262M today following our $151M Defy I inaugural fund which we closed two years ago. Defy II was led by the most premier LPs in the world, including university endowments, hospital groups, nonprofits, and foundations that allow our success to contribute to things we care about like scholarships, research, and community programs. There was more demand than capacity for the fund because investors know all we want to do is invest in the best entrepreneurs who want to change the world.

Our strategy is exactly the same as when we founded the firm. We invest in compelling, authentic early stage entrepreneurs and partner closely with them to help them scale their businesses. Entrepreneurs choose to work with Defy because we help them raise the right amount of capital, build the right consortium of coinvestors, and because their success really does matter to us and our firm.

So thank you to our entrepreneurs — the ones we backed at General Catalyst, Kleiner Perkins, and in Defy I who made this all possible, it really is all about you. Thanks to our team: Purvi, Phebe, Billy, Brian, and Sujal who make everything happen. Thanks to our families and friends who make life fun and amazing. Thanks to the educators, leaders, executives, and humanitarians who inspire us. Thanks to our immigrant and midwestern upbringing that helps keep our egos in check, remain scrappy, work hard, and be respectful to everyone. Thanks to the doubters — you motivate us, and our entrepreneurs, to defy every day. Thanks to our colleagues in the venture capital industry who have welcomed us warmly and are amazing partners — you create jobs, move our economy forward, and realize the world can benefit from technology. Thanks to our former partners, the media, corporate partners, and everyone who believed in us every step of the way. Our goal is to invest this fund wisely in special companies’ first institutional round of capital and adding value through team building, customer introductions, and by leveraging our past experience. Thanks to those teams that create incredible new companies in both the consumer and enterprise space that help us show outsized returns to our LPs. Thanks to people who think orthogonally and inspire others — we want to meet you. Thank you and never hesitate to contact us at hello@defy.vc.

Neil, Trae, and the Defy Team

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Early stage venture capital

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