Source: Fortune
Summary
Kevin Ryan, founder of AlleyCorp, has announced the firm’s $335 million second fund, focusing on healthcare, deep tech, and general tech. Ryan has a track record of making early-stage bets, including backing psychedelics as a treatment for depression and PTSD. He believes that the fundamentals of venture capital haven’t changed, despite the rapid evolution of the landscape. AlleyCorp currently has eight unicorns in its portfolio, including Rogo and ShopMy.
Our Reading
The numbers tell one story.
Kevin Ryan’s AlleyCorp raises a new $335 million fund, but he’s not changing his early-stage investment strategy. Ryan still focuses on small checks, under $10 million, and backing young companies. He defines venture capital by check size and stage, not fund size. AlleyCorp’s portfolio includes eight unicorns, but Ryan says the firm might expand into new verticals or geographies in the future.
Ryan’s adaptability is key, as he’s changed his mind on psychedelics and is now a key backer of the Yale Center for Psychedelic Research.
Author: Evan Null
