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Moderne Ventures
Constance Freedman founded Moderne Ventures after leading the venture arm of the National Association of Realtors, where she launched Second Century...
Moderne Ventures
Constance Freedman founded Moderne Ventures after leading the venture arm of the National Association of Realtors, where she launched Second Century Ventures and the REach accelerator. The firm emerged with a thesis that technology companies selling into regulated, relationship-heavy industries need more than capital—they need concentrated customer-access at the point of sale. Moderne invests from late seed to pre-IPO across enterprise SaaS, AI, robotics, deep tech, sustainability, and digital transaction management. The portfolio targets application in real estate, insurance, finance, and sustainability, with the ability to scale into adjacent markets. Confirmed positions include ICON (3D-printed construction), Qloo (cultural AI), Mesh (connectivity platform; reached $1B valuation per the firm, 2025), Orbital (AI platform; $60M Series B per the firm, 2025), and Caribou (auto refinancing). The firm has backed over 50 companies and recorded five IPOs and eight unicorns across prior funds. Geographic focus spans North America, with deal teams sourcing across the United States from the Chicago headquarters. Freedman leads an investment team of roughly a dozen professionals, including Partner Liza Benson and Managing Director Seth Corder. The firm operates a single office at 401 North Michigan Avenue in Chicago. Freedman is a member of YPO and a governing trustee of the Urban Land Institute. In 2025, Moderne participated in Mesh's Series C, which propelled the company to unicorn status, and co-invested in Orbital's $60 million Series B—both deals reflecting continued deployment into connectivity infrastructure and applied AI for regulated industries. Moderne's architecture diverges from generalist VC through the Moderne Passport, a six-month immersion program that embeds portfolio companies inside the procurement workflows of its 1,500-member corporate network. This turns limited partners and industry advisors into a structured early-adopter channel, compressing enterprise sales cycles in sectors where pilot fatigue typically slows adoption.
General information
Firm type
Venture Capital
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Chicago
Corporate office
401 N. Michigan Avenue, Suite 1900, Chicago, IL 60611, United States
Principals
Constance Freedman
Founder and Managing Partner
Liza Benson
Partner
Seth Corder
Managing Director
Carolyn Kwon
Managing Director
Dylan Ketcham
Principal
Sector focus
Frequently asked questions
How does Moderne Ventures source proprietary deal flow?
The primary sourcing advantage is the Moderne Passport—a six-month structured immersion program that funnels deal candidates from a network of 1,500 corporate executives in real estate, insurance, finance, and sustainability. These executives act as scouts, mentors, and early customers, often surfacing companies before they run a broad process. The investment team, led by Constance Freedman and Liza Benson, fields referrals from that network alongside traditional venture channels.
Who runs investment decisions at Moderne Ventures?
Constance Freedman, the Founder and Managing Partner, leads the investment committee. Partner Liza Benson helps manage investment activity, and Managing Director Seth Corder—previously a Partner at High Alpha—is a voting member. The senior team combines early-stage SaaS investing experience with deep sector relationships in property technology and insurance.
Is Moderne Ventures a single-family office or a traditional venture firm?
Moderne Ventures is structured as a venture capital and growth equity firm, not a family office. It manages multi-stage funds backed by institutional and corporate investors rather than a single family's capital. The firm's own website describes managing over $200M in regulatory assets, and its team operates as a dedicated fund manager.
Does Moderne participate in fund commitments or only direct deals?
Moderne invests directly in operating companies, primarily through equity rounds from late seed to pre-IPO. There is no public indication the firm makes fund-of-fund commitments. Its model focuses on direct deployment alongside the Moderne Passport program, which provides portfolio companies with strategic customer introductions rather than LP capital to other managers.
What is the Moderne Passport, and how does it affect portfolio companies?
The Moderne Passport is a proprietary six-month industry immersion program that connects Moderne's portfolio companies—and a limited number of outside applicants—with the firm's network of over 1,500 corporate executives. It is designed to compress enterprise sales cycles by embedding startups directly into the procurement conversations of large real estate owners, insurers, and financial institutions. Over 160 companies have been admitted.
How is Moderne Ventures related to Second Century Ventures?
Constance Freedman previously led strategic investments at the National Association of Realtors, where she launched and managed its venture fund, Second Century Ventures (SCV), and founded its industry immersion program, REach. SCV is a separate entity—a corporate venture arm of NAR—but served as the institutional predecessor where Freedman developed the thesis and network that became Moderne Ventures.
Does the firm maintain any philanthropic or adjacent structures?
Moderne does not publicly report a separate philanthropic foundation. Individual team members hold non-profit board seats—Freedman previously served on the advisory board for From the Top, and several principals are involved with industry and charitable organizations—but these are not funded by the firm's management company or funds.
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