US-based VC Goodwater Capital raises $1bn to invest in early, growth-stage startups

Goodwater Capital, a US-based venture capital (VC) firm, announced it has raised $1 billion in new funds that will invest in early and growth-stage consumer tech startups.

Eric Kim, co-founder and managing partner at Goodwater Capital, said the firm also gets access to an additional $500 million to support late-stage hypergrowth companies.

While based in the US, the VC firm has also been looking at investment potentials in Southeast Asia. Earlier this year, Goodwater Capital made headlines when it co-anchored the over $100 million Series D funding in MoMo, Vietnam’s largest e-wallet app.

It also invested an undisclosed amount in Vietnam’s B2B e-commerce startup Kilo in its seed funding round. The VC firm has also backed many of the world’s tech giants, such as Facebook, and South Korean firms Coupang and Kakao.

“Goodwater was founded seven years ago with a clear mission: To empower exceptional entrepreneurs who are changing the world through consumer technology,” Kim said in a LinkedIn post.

The Goodwater community, Kim added, spans more than 25 countries, with over 140 companies powering $150 billion in annualized financial and e-commerce services.

Consumer technology is the most powerful force on earth, shaping global culture and transforming the global economy in unprecedented ways.

“Our portfolio inspires and educates over 250 million people across social and educational platforms, cares for the health of nearly 50 million lives, and helps transport and house over 75 million families,” Kim added.

On its website, Goodwater Capital said it has made more than 56 venture and growth investments, 75 seed investments, and has backed 11 companies valued at more than $1 billion in seven years.

With the latest fund, the VC firm now has a total of $4 billion in assets, including capital commitments yet to be called.

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