645 ventures

645 Ventures, Black Owned VC Firm Closes Two Funds, Totaling $347M

645 Ventures is an early-stage venture capital firm that partners with exceptional founders who are building iconic companies.

They invest at the Seed and Series A stages and help founders scale to the growth stage.

Today 645 Ventures announced its oversubscribed fourth fund, Fund IV, alongside the launch of the firm’s first opportunity fund, Select I.

The closing of these two funds, totaling $347M, tracks the venture firm’s exponential growth, scaling the portfolio to 50+ companies, 15 team members, two offices, and eight exit events since its inception in 2014.

645 ventures
645 Ventures founders Nnamdi Okike and Aaron Holiday

In another statement made today, co-founder Nnamdi Okike stated, “With our $194m Fund IV, we are doubling down on our early-stage strategy of investing in exceptional Seed and Series A companies. We can invest $1-$5m at the Seed, and up to $10m at Series A. We lead, co-lead, or participate, and look forward to partnering with early-stage funds.

We raised our $153m Select I Fund with the aim of enhancing our value proposition for founders. With this fund, we are focused on re-investing in our existing portfolio companies at the Series B+ stage, with investments up to $15m in a non-lead capacity.

Particularly in this funding environment, we’re excited to be able to support our companies as a follow-on investor, while partnering with growth and multi-stage funds who lead these rounds.”

With the close of Fund IV and Select II, the New York-based firm now manages over $550M in AUM across five funds, with more than $400M to deploy over the next few years to early-stage founders building new infrastructure software, SaaS, and consumer startups that are built on new technology inflections.

The firm is currently hiring for new roles. You can find more information here.

Tony O. Lawson

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