Chai Ventures

Just got back from a whirlwind trip to #Singapore. In just three days, I packed in a dozen meetings, a major conference (#LPxAsia2025), and hosted a lunch for a group of family offices (with the help of Kelly Teoh + Rachel K.)—all centered around the incredible opportunities in early-stage venture. We kicked the trip off by hosting a private lunch for family offices, diving into why Chai Ventures and US early-stage emerging managers present a compelling investment case for family offices hoping to allocate abroad. The room buzzed with curiosity as we unpacked the potential of backing fresh talent in the world’s largest VC market—where high-growth tech and untapped innovation pipelines create outsized returns. From there, I headed straight to BLOCK71 Global, the heart of Singapore’s startup scene, where founders are building at full speed (thank you to Jeremy Yap for the tour!). Next up: a visit to Carta’s office with Chester Wong. In between, I had 1:1 meetings with funds like Altara Ventures,DSG Consumer Partners, Genedant Capital, and more, diving into investment theses, emerging manager strategies, and the evolving venture landscape across Asia and the US. The depth of these conversations reinforced just how global the opportunity set is—and how Singapore is becoming an increasingly important bridge between markets. The session on Investing in Emerging Managers led by Jay Rongjie Wang at #LPxAsia2025 was incredibly thought-provoking. PitchBook data since 2000 shows emerging managers often outshine established funds—top EMs in VC hit 15-20% net IRR versus 10-15% for established ones, with a wider range for big wins. Of course, it’s not without challenges—myths like “key man risk” persist, and investing in EMs is like “picking your own fruit” versus buying a pre-packed basket. But the upside? The top 1% of EMs deliver outlier returns. Smart LPs are getting in early, leveraging dedicated communities to source the next wave of breakout funds. In between the action, I made time for a few must-have meals. One at Tian Tian Hainanese Chicken Rice—an obsession of the late Anthony Bourdain, and another at Lau Pa Sat with Peter B. Williams. And I must say, you can never go wrong with an Anthony Bourdain recommendation! After three days of high-energy discussions, I left even more bullish on this ecosystem. Singapore is a global hub that’s only getting stronger. Thanks so much to everyone who made this trip so worthwhile!

I am excited to announce Millie's $12M Series A co-led by TMV and Foreground Capital, with significant participation from Pivotal Ventures, Ingeborg Investments, March of Dimes Innovation Fund, as well as Amboy Street Ventures, Mother Ventures, Joyance Partners, LearnStart, BBG Ventures, Chai Ventures, and Coyote Ventures! We are incredibly grateful to have you all in our corner! I am also thrilled to announce our upcoming location in California this April with Good Samaritan Hospital, part of HCA Healthcare! Look out for more announcements soon :) When Talia, Sarah, and I launched Millie just over 2 years ago, we set out to create the kind of care we wanted for ourselves. To date, we have cared for over 1500 patients, delivered hundreds of Millie babies....and are welcoming some back for their second. Patients want to start care sooner and stay with us longer, and I'm also excited to share that we are expanding our offerings to include more gynecological care and early parenthood support! We are growing alongside our families! Check out our Careers page for these and other roles we are adding to the incredible team we have at Millie: Head of Strategic Operations https://lnkd.in/g3Ssy6Q4 Senior Marketing Manager https://lnkd.in/gbNpDaWy cc: Soraya Darabi, Emma Silverman, Alice Zheng, Elizabeth Bailey, Stasia Obremskey, Brittney Riley Gavini, Erin Harkless Moore, CFA, Anna Mason, Mira Kaufman, Eric Schaefer, Carli Sapir, Allison Stern, Jun Deng PhD, Don Burton, Nisha Dua, Claire Biernacki, Jessica Karr, Rajiv Kapoor, Alex Chung, Kimmie Carey, Terese Tatum, Patricia Bevitz, Adam Besvinick, Turner Novak, Amy Kane https://lnkd.in/gMSKM3hg

Some dinners are about the food. Others are about the company. Last night’s Women’s Health Innovators Dinner, co-hosted by Chai Ventures x Unfabled, was about both—but mostly about the incredible people in the room. Around the table, we had investors and founders in women's health, each bringing unique insights and perspectives to the conversation. I woke up this morning still buzzing with excitement about the amazing ideas shared at the table! Of course, the real reason we were there was to discuss the future of women’s health—a space that still needs more funding, innovation, and collaboration. Hannah Samano, founder of Unfabled, shared her journey building the UK’s leading women’s health platform, emphasizing the importance of both community and consumer education. Huge thank you to everyone who joined and made this such a special night: - Ananya Asthana from Insight Partners - Anita Sonawane, CFA from Performance Equity Management, LLC, a Sagard partner - Christine Jurzenski from CRANEL? - Gledis Vogli from a Stealth Mental Health / Substance Abuse Company - Mira Kaufman from Ingeborg Investments - Niha Jain from Redwood Pacific Management LLC - Rhian Horton from Stellation Capital - Wendy Diamond from Women's Entrepreneurship Day Organization (WEDO) / #ChooseWOMEN If you're building, investing, or working in this space, let’s connect and continue the conversation!

?? US-based maternity care provider?Millie?has secured USD 12 million in Series A funding to expand its hybrid care model. The round was co-led by TMV and Foreground Capital, with significant participation from Pivotal Ventures and the March of Dimes Innovation Fund. Existing investors, including Ingeborg Investments, BBG Ventures, Joyance Partners, LearnStart, Amboy Street Ventures, Mother Ventures, Coyote Ventures, and Chai Ventures, also participated. ?? ?? “Inspired by a near-miss following the birth of my own daughter, I set out to build a better maternity model that provides more complete, right-sized, and proactive care. I’m proud that Millie is not only a women-powered team, but is also backed by an all-star women-powered cap table — evidence that women are creating and funding their own solutions to create a better system for themselves.” Anu Sharma, Founder & CEO of Millie #femtech #womenshealth #womenshealthinnovation #healthcare #healthtech #healthcareinnovation #digitalhealth #healthtech #virtualcare #hybridcare #maternalhealth #pregancy #startup #scaleup #vc #venturecapital

What an incredible dinner—thank you to the amazing Alex Chung of Chai Ventures and the incomparable Hannah Samano founder of the groundbreaking Unfabled the first-of-its-kind platform revolutionizing women’s health and wellness. I founded Women's Entrepreneurship Day Organization (WEDO) / #ChooseWOMEN#ChooseWOMEN 12 years ago to inspire women and girls worldwide to believe in their dreams and embark on their entrepreneurial journeys. With women making 80% of healthcare decisions but receiving only 4% of healthcare R&D funding, it’s clear that empowering women as innovators and leaders is more IMPORTANT than ever! Grateful to be surrounded by brilliant women dedicated to investing, collaborating, and driving change so every woman can live a healthier, happier life! #JoinWEDO #WomensHealth #Entrepreneurship #Impact #Choosewomen #Wedo2025 #womenwow

Last week at the Carta Galentine’s Brunch + Learn, Stephanie Nweke moderated a panel between myself and Caroline Dell (Loop) to talk about what it really takes to raise a successful round as a female founder in 2025. The energy in the room was incredible—full of builders navigating the highs and lows of early-stage fundraising. What made this conversation so special (aside from sharing the stage with our newest Chai Ventures portco) was the mix of founders in the room: - Miri Buckland from Zeen, who has successfully raised capital from VCs like Cowboy Ventures, defy.vc, Stellation Capital, and more. - Elly Choi from lil sweet treat, who has bootstrapped her business and leveraged social media to open multiple locations in New York City within a year of starting her business. - Lilli Donahue, who is thinking through fundraising for her new venture (DM her if you want to learn more!). Some key takeaways from the panel: ?? Founder-Market Fit is Key – Investors want to know: Why are you THE person to solve this problem? The best founders have an undeniable edge—industry expertise, a strong network, or lived experience. ?? Traction Comes in Many Forms – At pre-seed, it’s not always about revenue. Early validation can come from customer waitlists, strong engagement, or scrappy distribution hacks. ? Backing the Founder vs. Backing the Idea – At this stage, investors are betting just as much on who you are as what you’re building. ?? Generating FOMO in Your Fundraise – The best founders run tight, well-orchestrated processes—building momentum, showing progress, and creating urgency. Beyond the insights from the panel and discussions among attendees, what made this event even more special were the brand activations from a few incredible women-led companies in my network. Nandini Mullaji from Sitch offered AI-enabled matchmaking services for our attendees (fun fact: Dini has set up 100s of people / 3 marriages), and we also had the chance to enjoy delicious samples from Elan Halpern and Kirsten (Kiki) C. from Beny Yogurt—making it a true Galentine’s celebration. Another highlight was reuniting with a former colleague of mine from Decibel Partners (and an alum of the #CNVC at UChicago), Ananya Asthana—so fantastic to hear about all of the big things that she's doing now!! A huge thank you to Carta (especially Maria Pope!!) for hosting and to everyone who joined us on Friday—excited to continue these conversations and support more women founders!

Excited to be hosting a Women’s Health Innovators Dinner this Wednesday evening (Feb 19th) with one of our Chai Ventures portfolio companies, Unfabled! If you’re a founder, investor, operator, or ecosystem builder in women’s health, we’d love to have you join us for an evening of meaningful conversation, insights, and connections over tapas. Hannah Samano, founder of Unfabled, is visiting NYC from London and will be sharing lessons from building the UK’s leading women’s health platform—along with a few product samples for you to try. We have a few spots left—link in comments to RSVP. Looking forward to seeing our friends from GingerBread Capital, Ingeborg Investments, Stellation Capital, and more!

Yesterday, we gathered an incredible group of female founders and funders for a Valentine’s-themed brunch and learn—because what’s more romantic than securing the perfect investor match? ???? The fireside chat with Caroline Dell (Loop) and Alex Chung (Chai Ventures)—moderated by the ever-thoughtful Stephanie Nweke (Carta)—was a love letter to running a successful fundraise ???? Key takeaways to swipe right on: ?? Fundraising is a courtship: Warm intros, strong outreach, and a well-run process make all the difference. ?? Know your relationship goals: Understand dilution, board seats, and valuation before making any commitments. ?? Keep perfecting your love story: Your pitch and deck should evolve as you get feedback—better storytelling wins hearts and term sheets. ?? Long-term compatibility > quick cash: The right investors are like great partners—they support you for the long haul, not just for the honeymoon phase. A heartfelt *thank you* to Noah Wellness for the gorgeous florals that made the room (and our networking selfies) extra dreamy ??? To every founder in the room: May you find investors who believe in your vision and support your growth. The right match is worth the wait! ?? Until next time—keep fundraising and flourishing ?? #LoveAtFirstFund #FemaleFounders #Fundraising #BrunchAndBuild #VC

We will be speaking on a panel in Tokyo next week! Whether you’re a Women Founder & Entrepreneur, Impact & Gender-Lens Investor, Community Leader, Mentor & Advisor of Women-led Ventures, or an Early-Stage Startup Enthusiast, this Salon will equip you with the tools and connections to make a lasting impact. Register to attend in-person or virtually - https://lu.ma/852vji1g If you are in Tokyo and would like to meet, please reach out!

Back in NYC after a fantastic trip to Chicago! It was the perfect mix of catching up with old friends, engaging in insightful conversations, and making new connections. I had the privilege of judging the University of Chicago's College New Venture Challenge (CNVC), a competition that I had actually participated in as an undergrad at UChicago. It's impressive to see how the competition has grown so much since my time there. When I competed, I was working on an idea in the creator economy space called sellerfan–a platform leveraging blockchain technnology to help creators identify and reward their top 1% of superfans with exclusive experiences. It was a bit ahead of its time, but it's exciting to see how that space has evolved. Thanks to Starr, Scott, Lucas, and the Polsky Center at the University of Chicago for including me as a judge for CVNC again this year. Another highlight was visiting the Pie office on Wednesday. Thanks to Sam for showing me around! It was great to meet Andy, the Founder + CEO of Pie, and learn more about their mission to address social isolation. Their work to foster meaningful connections and build community is so vital, and I'm impressed with the traction that they have so far in Chicago. We’re ready for Pie in NYC whenever you guys are! Thursday morning, I hosted an event with my good friend, Amira, from Bluestein Ventures. It was wonderful reconnecting with professors from The University of Chicago Booth School of Business like Jason and Ira, catching up with ecosystem partners like Abin from World Business Chicago, and seeing fellow Boothies like Elizabeth, Josh, and Luke. The energy and intellectual curiosity in the room were palpable. One attendee even remarked, "I wish I could bottle up that room's energy and add it to my coffee every morning!" The trip concluded with a panel discussion at Chicago Booth EVC's #SeedCon on the state of venture capital, with Vikram, Kristina, Allison, and Sonia. We discussed the current VC landscape and its challenges and opportunities for both founders and investors. One particularly special moment: Jedd, a sophomore at UChicago and member of the men's varsity soccer team, was in the audience – I had the pleasure of inviting his mom, Jennifer, to speak at Booth about the future of fashion when I was a student there (Jennifer used to be at THE YES (acquired by Pinterest) and is now at Daydream). It was a great full-circle moment, especially knowing that Jedd will be doing a VC internship in Israel this summer! Chicago, it was a pleasure as always! I’m already looking forward to my next visit.