Currently raising $50M.

Mission Vertical Capital’s Blended Venture Fund combines a 50% allocation to private companies, across Seed to Series C, with a 50% allocation to public microcap equities with market capitalizations up to $1 billion.

The structure aims to return capital to LPs through the public sleeve, with all public-side capital expected to be returned by Year 5. If it performs as intended, investors could recover a meaningful portion of their original commitment while maintaining full exposure to the Fund’s private portfolio—what we view as venture capital’s version of a “zero-cost call option.”

The Fund’s private portfolio is built on more than three years of pre-launch investing through SPVs, direct investments, and hard-won positions in companies we know well. More than half of the portfolio is already in place through these existing holdings, which are now approximately three years closer to potential exits and all marked up between 3x and 13x from our original entry prices.

These holdings are being contributed at meaningful discounts to current and upcoming financing rounds, giving LPs an estimated 40% day-one paper gain on the initial private sleeve.

These investments share our belief that AI’s greatest impact will be in the physical world—not on a screen -- but across job sites, logistics networks, and the industrial systems that move people and goods. Construction technology, transportation, infrastructure, and industrial automation are entering a generational shift, and our portfolio companies are positioned early at its center.

The Fund’s public sleeve holds 15 to 20 concentrated microcap positions, typically in companies with market capitalizations below $1 billion, which we view as “liquid venture.” Managed by Erik Voss, CFA—former CIO of North American Growth Equities at Invesco, where he oversaw roughly $70 billion in assets—the strategy has risen more than 44% since its first trade in August 2024 and is designed to address one of venture capital’s biggest challenges: duration.

As the private portfolio compounds, the public sleeve is intended to provide liquidity, distribute gains, and return capital on a timeline traditional VC cannot match. The Fund is deliberately managed for duration: the private portfolio is expected to be fully built by the end of 2027, while the public sleeve is expected to be fully liquidated and returned to investors by Year 5.