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Reflect Ventures
Reflect Ventures is a venture capital firm founded in 2021 in Boston, Massachusetts. It syndicates investments in high-potential startups across various...
Reflect Ventures
Reflect Ventures is a venture capital firm founded in 2021 in Boston, Massachusetts. It syndicates investments in high-potential startups across various sectors, including logistics, supply chain, transportation, commerce, distribution, and fintech rails. Reflect Ventures has made 53 investments, with its latest being in Fincart in January 2026.
General information
Firm type
Venture Capital
Year founded
2021
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Boston
Corporate office
Boston, MA, United States
Principals
Michel Friedman
Team
Jor Law
Team
Buddy Ye
Team
Maheen Nadeem
Team
Naima Awan
Team
Sector focus
Frequently asked questions
What does Reflect Ventures invest in?
Reflect Ventures targets early-stage B2B and B2B2C supply-chain technology companies in emerging markets. Its portfolio spans logistics SaaS, FMCG distribution, e-enabled freight forwarding, and e-enabled trading platforms. Portfolio companies include O360, Maad, Chari, GoFlux, TRUCK IT IN, and GoCement, per the firm's website.
Which geographies does Reflect Ventures focus on?
The portfolio reveals a footprint across Latin America, Africa, the Middle East, and South Asia. Companies are based in Pakistan (TRUCK IT IN, Dastgyr), Senegal (Maad), Morocco (Chari), Brazil (GoFlux, Appload), South Africa (Cargon), Turkey (Kamion), and Indonesia (GoCement), among other markets.
Who makes investment decisions at Reflect Ventures?
The firm's website lists a team that includes Michel Friedman, Jor Law, Buddy Ye, Maheen Nadeem, and Naima Awan. The group is supported by a network of advisors with operating backgrounds in emerging markets, though specific decision-making roles are not publicly disclosed.
Does Reflect Ventures invest in consumer-facing startups?
The portfolio is overwhelmingly B2B and B2B2C, concentrated on digitizing physical supply chains rather than direct-to-consumer plays. Exceptions like transport ticketing (Jatri, T40 Technologies) suggest limited adjacency to B2B2C mobility, but consumer internet is not a stated focus.
How does Reflect Ventures source deals?
Reflect Ventures's advisor roster — which includes operators with emerging-markets experience such as William Bao Bean and Alex Urdea — suggests a sourcing model built on local networks and operator referrals. The firm does not publicly describe its sourcing process.
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