Chicago-based SNAK Venture Partners has raised an oversubscribed $50 million debut fund to invest in vertical and B2B digital marketplaces.
The fund is anchored by Pritzker Group, the investment firm founded by Illinois Governor JB Pritzker and his brother Tony Pritzker. Other backers in the fund include the State of Illinois Growth and Innovation Fund, along with executives from companies such as Favor Delivery and RetailMeNot.
SNAK Venture Partners was founded earlier this year by Sonia Nagar and Adam Koopersmith, both of whom previously worked at Pritzker Group.
During their time there, they helped back marketplace businesses such as auto platform Backlot Cars and ticket reseller TicketsNow, which was later acquired by Ticketmaster.
Focus on under-digitised B2B markets
The decision to launch an independent fund came as more traditional industries grew comfortable adopting new technology. She pointed to sectors like supply chain, construction, and logistics as areas that still rely heavily on manual processes, despite rising demand for digital tools.
The firm is deliberately focused on B2B marketplaces, which Nagar believes offer large, untapped opportunities compared to consumer platforms that dominated the last decade.
She referenced companies such as Uber, Instacart, and Airbnb as examples of how marketplaces can generate massive venture returns, while arguing that similar outcomes are still possible in business-focused categories.
SNAK has already invested in six startups, including Big Rentals and Repackify. The firm plans to write seed-stage checks of $1 million to $2 million, backing roughly 20 companies and deploying the fund over the next three to four years.
