Chicago-based venture capital and growth equity firm, Moderne Ventures, has successfully raised more than $230 million for its MV Core Fund III. This surpasses the previous oversubscribed fund of $200 million (MV Core Fund II) and brings the total assets under management to over $500 million.
The institutional investors in this round include GCM Grosvenor, Illinois Growth and Innovation Fund, as well as strategic partners such as AvalonBay, Essent, and other real estate companies. The company is led by Founder and Managing Partner Constance Freedman along with Partner Liza Benson. Since its inception in 2015, Moderne has made over 35 investments and supported more than 150 companies across three funds.
Prior to establishing Moderne Ventures in 2015 , Freedman also launched Second Century Ventures in partnership with the National Association of Realtors where she served as manager. According to Freedman , “MV Core Fund III builds upon our existing strategy where we leverage our decades of specialized experience within specific industries to connect customers with our portfolio companies . This approach not only drives significant returns for our investors but also advances entire industries.”
