Masha Bucher, founder and general partner of Day One Ventures, has secured $150 million for the firm’s third fund. Over the past six years, Bucher’s innovative approach of merging venture capitalism with public relations has distinguished Day One Ventures in the competitive landscape of venture capital.
Late last month, we also reported about how Clean Energy Ventures closed $305M fund to mitigate emissions, opens London office.
Since its inception, Day One Ventures has seen remarkable growth. The firm began with Fund I at $20 million, followed by Fund II at $50 million. Under Bucher’s leadership, the firm has achieved significant milestones, including 22 successful exits and an IPO with Terran Orbital. The portfolio includes eight unicorns such as Superhuman, Remote, and Worldcoin. Truebill, another portfolio company, exited to Rocket Companies in 2021. As of five years ago, Day One Ventures managed $11 million, a figure that has now surged to over $450 million.
Bucher attributes this growth to her strategic decision to surround herself with industry experts. In 2022, ClassPass co-founder Sanjiv Sanghavi joined the firm to lead investments in climate technology. The new $150 million Fund III aims to support early-stage founders addressing global issues like wealth disparities, climate change, and social isolation. Bucher reportedly said, “The new fund represents a deeper integration of art and culture alongside our established expertise in storytelling and PR.”
Bucher’s journey and strategic vision
Bucher’s journey into venture capital is as compelling as her professional achievements. Born in Russia, she was initially a prominent youth leader in Vladimir Putin’s organisation, Nashi. However, she later distanced herself from this past and cannot return to Russia due to political reasons.
At 18, Bucher founded a social media agency that quickly expanded to 80 employees. Her transition into public relations provided deeper business insights. In 2010, she connected with Runa Capital co-founder Serg Bell and later served as PR director for the company. Bucher then became vice president of communications at the data protection startup Acronis before moving to the United States around 2014, where she launched M&A PR Studio.
By 2017, Bucher transitioned to angel investing, backing companies like Lithic, Chatfuel, Acquired.io, and Truebill. Over the past six years, Day One Ventures has focused on areas like AI, fintech, climate tech, and web3. Despite some of these areas falling out of favour in the venture capital world, Bucher remains optimistic about AI’s potential.
Fund III and the future of human initiative
With Fund III, Day One Ventures is introducing a new focus area called “Future of Human,” exploring the intersection of technology, art, and culture. Recent investments include Rainmaker, a cloud seeding startup, and Cradle Healthcare, which is developing advanced cryogenic freezing technology. Bucher explained that Cradle’s technology can “freeze the brain so fast that it doesn’t turn into water, preserving personality and memory for the future.”
Diverse and inclusive investment strategy
Day One Ventures stands out for its commitment to diversity and inclusion. “63% of our founders are female or people of colour, and they all came organically,” Bucher reportedly noted. The firm looks for founders with profound tech experience and exceptional ideas. The firm also supports young, mission-driven founders with unconventional experience but extreme dedication.
The power of community in fundraising is often underestimated but highly impactful. “There is a lot of support from our community,” Bucher explained. 14 portfolio founders invested in them, which also indicated that Day One Ventures is meeting founders’ needs by picking the right founders and supporting their growth.
Bucher challenges the traditional image of a successful venture capitalist. Bucher believes that women can achieve success by embracing their unique strengths.
What we think of about the update
Masha Bucher’s strategic leadership and innovative approach have propelled Day One Ventures to new heights. The firm’s focus on early-stage founders addressing global issues, coupled with its commitment to diversity and inclusion, sets it apart in the venture capital landscape.
With the new $150 million Fund III and the “Future of Human” initiative, Day One Ventures is likely to continue making significant impacts in the tech industry, supporting transformative technologies and groundbreaking ideas.
