TUNDRA VENTURES TARGETS GREATEST OPPORTUNITY IN VENTURE CAPITAL
TUNDRA VENTURES TARGETS GREATEST OPPORTUNITY IN VENTURE CAPITAL
Fund launches to tap unseen, early-stage talent in tech, CPG, and healthcare
Galvanized by the blue skies represented by early-stage, underinvested founders, a seasoned team of three operators – Amanda Heyman, Adam Choe, and Danielle Steer – have launched Tundra Ventures to capitalize on this opportunity.
Tundra Ventures finds and de-risks the opportunities other funds can't see. The new pre-seed and seed-stage fund brings accelerator guidance to tenacious entrepreneurs, using proven methods to build operators of the future faster and smarter. Building on cultural Midwestern strengths of grit, pragmatism, and coach-ability, Tundra will tap the unique pipeline to the other $4.4T opportunity represented by underinvested founders in tech, CPG, and healthcare.?
“Our team is trained to see potential that others overlook,” Tundra Managing Partner Amanda Heyman said. “And we know how to nurture and de-risk that potential. That’s our secret sauce.”
Headquartered in Minneapolis, Tundra Managing Partners Amanda Heyman, Adam Choe, and Danielle Steer are an innovative and balanced team of investors with a combined 25 years of experience working with hundreds of entrepreneurs. The team came together through Lunar Startups, a Minnesota accelerator supporting early-stage companies led by founders who identify as BIPOC, LGBTQ+, women, and non-binary. After three years of developing a battle-tested system of support, spanning from recruitment to due diligence, they are now bringing their de-risking machine to venture capital.?
“We know investing at the earliest stages of a company equals the highest possible returns for investors,” Tundra Managing Partner Adam Choe said. “Our team has been working deeply with founders at this early stage for years, and we know how to find, nurture, and support the absolute best founder talent. We’re aiming at the bluest waters and the bluest skies.”?
Some of Tundra’s initial investments include:
It’s an open secret that VCs are missing a multi-trillion-dollar opportunity by ignoring diverse founders. As Morgan Stanley reported in 2019, “Despite being famously data-driven, VC firms are not acting on the data on diverse entrepreneurs…A closer look at the broader marketplace would reveal that companies serving diverse customers represent a huge opportunity to capitalize on consumer segments with plenty of room for more growth.”
“Underinvested is a better investment. This isn’t news,” Heyman said. “But the VC community isn’t capitalizing on this blue sky space. And Tundra will.”
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Tundra is also laser-focused on verticals with traditionally deep talent pools in the Midwest - CPG, technology, and healthcare. Tundra Ventures shares a birthplace with the supercomputer, the Honeycrisp apple, Post-Its, Cheerios, the pacemaker, and Fortune 500 companies including 3M, Cargill, Medtronic, Ecolab, General Mills, United Health, Mayo Clinic, Hormel, Target, and more. Tundra is also focused on the most adaptable, resilient founders building high-value companies that can withstand a turbulent future.
Bringing a fresh perspective to the venture industry, the Tundra team has track records as founders, mentors, and investors. Prior to a VC apprenticeship at Backstage Capital, Amanda worked as a startup attorney counseling over 100 companies and is co-founder of a VC-backed sports technology company. Danielle is recognized internationally for her work with entrepreneurs, is a Recast Capital Enablement Program alum, and is the Founding Executive Director of Lunar Startups. Adam is the former Managing Director, gener8tor Minnesota, gBETA Minneapolis, and gBETA Medtech with a background in neurobiology and experience as a pediatric health startup founder.??
The Tundra team is also looking forward to continuing a close alliance with Lunar Startups, where Lunar companies have created $294 million in economic impact for Minnesota to date.
As Tundra launches to the public with a targeted $10M fund, Tundra and Lunar are working to formalize their alliance and catalyze their community. More to come as the two organizations explore how to best amplify the impact of Lunar and demonstrate Tundra’s outsized returns from underinvested founders.
Press Contacts:
Amanda Heyman, Managing Partner, Tundra Ventures
Adam Choe, Managing Partner, Tundra Ventures
Artist.Inventor.Physician
2 年Congratulations Adam, love the plan and the energy. True need in start-up equation.
Managing Director | Recast Fellow | VCI Fellow
2 年So excited for you Adam Choe and the impact you three will make!!