Fitz Gate Ventures collects $10 mln for maiden fund

Fitz Gate Ventures has raised $10 million for its debut fund. The Princeton, New Jersey-based venture firm mostly backs startups founded, managed or owned by Princeton University alumni, faculty or students. So far it has made undisclosed investments in five early-stage companies.


PRINCETON, N.J.–(BUSINESS WIRE)–Fitz Gate Ventures today announced that it has raised $10 million for its first fund. Founded in July 2016, Fitz Gate Ventures invests in startups in which a Princeton alum, faculty member or student is either a founder or member of the senior management team, and to date it has invested in five early stage companies.

Michael Carvin, Princeton alumnus and CEO/Co-Founder of Fitz Gate portfolio company SmartAsset, commented: “I made room in the round for Fitz Gate Ventures because I loved the value proposition. Almost immediately, Fitz Gate’s “Friends of Fitz” added real value.”

Dan Porter, Princeton alumnus and founder of Fitz Gate portfolio company Overtime Sports, added: “When I was almost at the finish line on our series seed round, I had a couple of investors who couldn’t move fast enough. Fitz Gate jumped into action and introduced me to two top tier venture capital funds that co-invested with Fitz Gate in one week’s time. In addition, I am looking forward to Fitz Gate’s help in meeting alumni who are potential employees or strategic partners. These guys are plugged in at the highest levels because they know alumni everywhere. It really is powerful stuff.”

Daniel Powell, CEO of Fitz Gate portfolio company Optimal Dynamics which was founded by a Princeton Professor, said: “Within two weeks of investing, Fitz Gate had me and our team in front of one of the largest customers in the world, all through the Princeton network. It was a real testament to their business model.”

About Fitz Gate Ventures
Fitz Gate Ventures, founded by Princeton alumni Jim Cohen and Mark Poag, is an early stage venture capital firm focused on the Princeton University ecosystem. Through its vast “Friends of Fitz” network of Princeton professors, administrators and alumni ( as well as through the broader alumni community generally, the fund has early access to a wide range of investment opportunities both on and off campus. The Fund’s strategy of leveraging its Friends of Fitz and the broader Princeton network for deal sourcing, deal vetting, co-investment, follow-on investment and mentorship of its portfolio company founders and management is a key strategic advantage of the fund.