Former Secretary of Commerce and LearnVest Founder Launch $200 Million VC Fund

Alexa von Tobel, the founder of LearnVest, and Penny Pritzker, the former U.S. Secretary of Commerce, have teamed up to launch a $200 million venture capital fund that they are calling Inspired Capital, according to Business Insider.

The two women started the firm because they believe that traditional venture capital firms disregard young entrepreneurs more frequently. Their strategy is to target these individuals with the goal of finding the next “Mark Zuckerburg.”

“I am not totally superhuman and I had our third child, so we decided to use that window to set up our firm operations,” von Tobel said. “We used the summer to finish the fund raise and are officially now heads down and in business!”

The fund is focusing on investments between $500,000 and $10 million. The fund is based out of New York City, but the two women stated that they are open to startups out of other locations around the country.

Alexa von Tobel, the founder of LearnVest, and Penny Pritzker, the former U.S. Secretary of Commerce, teamed up to launch a $200 million venture capital fund that they want to be different from traditional venture capital firms.

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