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Summary:

Aydin Senkut, a well known angel investor and ex-Googler has closed a new $40 million fund for his Palo Alto, Calif.-based four-year-old investment firm, Felicis Ventures. The fund will invest in very stage startups including those focused on consumer Internet and mobile sectors.

Aydin Senkut, a well known angel investor and ex-Googler has closed a new $40 million fund for his Palo Alto, Calif.-based four-year-old investment firm, Felicis Ventures. The fund will invest in very stage startups including those focused on consumer Internet and mobile sectors.

The fund was over subscribed, perhaps because of Senkut’s track record which has allowed him to stand out, especially as angel activity has gotten frothy. Felicis Ventures has made over 60 investments in seed stage consumer Internet and mobile companies to date, and within the last 12 months, more than a dozen have been sold. In total, 15 Felicis Ventures start-ups have been acquired by companies like Google, Microsoft, Disney, Intuit, AT&T, Twitter and IAC. He was an investor in Mint, Powerset and Aardvark, three startups that were acquired by Intuit, Microsoft, and Google respectively.

“With this new fund, we plan to expand our reach in two ways: fast growing horizontal markets such as mobile applications and e-commerce, in addition to Internet and mobile companies in four verticals – education, healthcare, personalized medicine and energy conservation. In those four sectors, the market potential is in the tens, if not hundreds, of billions of dollars,” said Senkut in a press release.

The fund has also attracted investment from the likes of Peter Thiel (founder of PayPal and Facebook board member) and Paul Buchheit (creator of Gmail and co-founder of Friendfeed).

By Om Malik

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  1. Jan Wertgiven Sunday, August 15, 2010

    Om: did he raise 40m or has a fund that will be 40m. Some superangels like Dave McClure have only announced fund size amounts but don’t have any money or very little raised.

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    1. He has raised a $40 million fund.

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  2. No homeruns yet? This fund should be able to find a billion dollar exit. All it takes is one good vc talent scout. Lotta vc money chasing maybe 5-10 potentially game changing web/mobile startups. To capture a billion dollar market will definitely require a game changer.

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  3. Having two exits under my belt as CEO or senior executive, now a founder, I would be reluctant to take money from any person that hasn’t walked in my shoes. That means being CEO of a company when that company has a highly successful exit.

    I know it’s a tough bar but it’s want I now demand. Other founders should, too.

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  4. [...] of international sales — Senkut has now been an angel investor for four-and-a-half years and recently closed a fund of about $40 million at Felicis Ventures. His portfolio includes companies such as Aardvark [...]

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  5. [...] $20 million for his Lowercase Capital group of funds, and another former Googler, Aydin Senkut, has raised $40 million for his Felicis Ventures fund — and there are new funds appearing every few weeks, it seems. That much money chasing a [...]

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