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New Stack Ventures
New Stack Ventures is a venture firm based in Chicago, Illinois. Founded in 2015, it invests in technology startups across fintech, e-commerce, supply chain,...
New Stack Ventures
New Stack Ventures is a venture firm based in Chicago, Illinois. Founded in 2015, it invests in technology startups across fintech, e-commerce, supply chain, cyber, and healthcare sectors. The firm has made 77 investments, including a Pre-Seed investment in Maestro on February 11, 2026.
General information
Firm type
Venture Capital
Year founded
2015
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Sector focus
Frequently asked questions
What is New Stack Ventures' geographic focus?
New Stack concentrates on founders outside major coastal venture hubs, with a particular emphasis on the Midwest, where the firm is headquartered. The strategy is built on the belief that engineering talent and viable startups in Chicago, Detroit, and similar markets are systematically underpriced by traditional venture capital.
What stage does New Stack Ventures invest in?
The firm writes first checks at the seed stage, often engaging with companies that are pre-product or generating very early revenue. New Stack targets the moment when technical founders are moving from concept to commercial product and have not yet raised institutional capital.
Who makes investment decisions at New Stack Ventures?
Founding partner Nick Moran leads investment decisions. Moran built his career in technology operations before establishing the firm and has been the primary public voice for its thesis on non-consensus investing and geographic arbitrage in venture.
Does New Stack Ventures lead rounds or participate as a follower?
New Stack typically leads or co-leads seed rounds, given its focus on being the first institutional check. The firm structures its involvement to secure meaningful ownership and board influence early, consistent with its model of concentrated conviction bets rather than passive index-style investing.
Which sectors does New Stack explicitly target?
The firm's primary sector interests include enterprise SaaS, AI/ML, fintech, digital health, and industrial technology. Moran has been vocal about avoiding overly hyped consumer categories, preferring hard-tech and enterprise deals where technical moats and long sales cycles deter fast-follower capital.
How is New Stack Ventures capitalized?
New Stack raises traditional closed-end venture funds, with its most recent vehicle, Fund III, closing at $42 million in May 2024 (per TechCrunch, 2024). The firm's limited partner base is not publicly detailed but appears to include a mix of institutional allocators and high-net-worth individuals based on its fund structure.
What is New Stack's posture on co-investments?
As an early-stage seed fund, New Stack actively syndicates rounds with other venture firms, particularly when portfolio companies raise follow-on capital. The firm's model relies on co-investor relationships with larger multi-stage funds that can lead Series A rounds for its seed portfolio.
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