Former Google engineer turned investor, Casey Caruso, has successfully raised $75 million for her new venture capital firm, Topology Ventures. This fund aims to support frontier technologies and has attracted prominent backers, including tech mogul Marc Andreessen.
From Engineering to Venture Capital
Caruso’s career began at Google in 2017, where she worked as an engineer. Not long after, her journey into venture capital started in 2018 when she joined Bessemer Venture Partners, one of the industry’s oldest and most respected firms. By 2021, Caruso transitioned to Paradigm, a leading cryptocurrency investment firm co-founded by Coinbase’s Fred Ehrsam and former Sequoia partner Matt Huang. Notably, Paradigm is known for its investments in innovative digital asset projects.
Launching Topology Ventures
Caruso’s latest endeavor, Topology Ventures, reflects her commitment to advancing frontier technologies. On December 12, 2024, she announced the launch of Topology’s $75 million Fund 1 via a tweet:
“I’m launching Topology, an early-stage venture firm dedicated to frontier technology. We’ve raised an oversubscribed $75M Fund 1. Topology backs founders who put everything on the line to bend the arc of human progress. Meet us at the edge.”
The firm’s focus spans cutting-edge fields like artificial intelligence, blockchain, quantum computing, and other disruptive technologies.
High-Profile Backers and Early Investments
“We are backed by the co-founder of OpenAI, managing partner of Bessemer, author of GPT-4, Marc Andreessen, Chris Dixon, Accolade, Cendana, and many other top-tier builders, organizations, and endowments,” Caruso shared.
Operating in stealth mode for seven months, Topology Ventures has already funded several promising startups. According to Caruso, these founders have attracted follow-on investments from renowned entities such as Founders Fund, a16z, and influential leaders in AI from OpenAI and Meta.
Hack VC: A Similar Success Story
In a related development, Hack VC, a crypto-focused fund, recently secured $77 million for its third fund, approaching its $80 million target. Founded by blockchain experts Alex Pack and Ed Roman, Hack VC specializes in seed-stage investments. Since starting to deploy capital in 2023, the fund has achieved significant early returns. This further emphasizes the growth potential in blockchain and cryptocurrency ventures.
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