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Gold House Launches $30 Million Fund To Invest

Gold House Launches $30 Million Fund To Invest

Gold House, a leading group of Asian and Pacific Islander (API) leaders, has formed Gold House Ventures, a $30 million fund that will invest in start-up founders of API heritage. Gold House Ventures makes investments in a variety of businesses and stages, always in collaboration with international investors.

Accel, Alley Corp, Bain Capital, Circle Up, Coatue, Decibel, Eniac, Floodgate, General Catalyst, GGV, Goodwater, Graph Ventures, Imaginary Ventures, Juxtapose, Light speed, Maveron, Mayfield, NEA, North zone, Tribe, Trinity, Upfront, Wing VC, and Xfund are among the investors.

C-suite executives from major corporations; successful API founders (Binance Labs, YouTube, Twitch, Door Dash, Credit Karma, Zuora, Zola, Fiscal Note, Honey, GOAT, and more);

and cultural leaders with business success such as lifestyle icons Eva Chen, Michelle Phan, Padma Lakshmi, and Prabal Gurung; Grammy-winning musicians Anderson. Paak, Agnez Mo, Dumbfoundead, and Transparent Arts

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The effort is described by Gold House as a “market-first social impact,” and Chen claims that all of Gold House’s management fees and revenues would go back to the organization. Still, this is a capitalistic venture, with limited partners expecting a return on their investment and a serious investment team at the helm,

including Eric Feng, a former Kleiner Perkins investor who is currently working on a new start-up; Chen, who has been advising and investing in startups for years; and Megan Ruan, who worked at Morgan Stanley and most recently as an analyst in former ambassador Robert W. Kennedy’s private investment office.

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Gold House Launches $30 Million Fund To Invest

The team has already invested 20% of the funds it has raised in 32 firms, ranging in size from $50,000 to $250,000 per deal. Clipboard Health, an app-based marketplace that matches nurses with open shifts at nearby healthcare facilities,

received one of the checks. The company announced yesterday that it had raised $80 million in two unannounced rounds since last year. Gold House also invested in Umami Cart, an Asian grocery delivery firm that raised $6 million in December.

Gold House also plans to put a quarter of its new capital into Gold Rush, its accelerator programme, which has started formally investing $100,000 in exchange for 5% of a business team’s stock.

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According to Feng, one of the main investors in Gold House’s new venture fund is Binance, the world’s largest cryptocurrency exchange, which might be worth up to $300 billion if it were a publicly traded business. Feng claims that Gold House and its creator,

Changpeng Zhao, also known as “CZ,” have a “highly strategic relationship,” and Binance could be quite open to collaborating with Gold House-identified promising start-ups, either through a straight investment or as members of its accelerator program.

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