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Alternative Assets  + VC  |  August 3, 2023
Goodwater Capital Absorbs $1B to Support Consumer Tech Startups
Joe Palmisano
By: Joe Palmisano

Goodwater Capital Absorbs $1B to Support Consumer Tech Startups

Goodwater, a consumer tech-oriented venture capital firm, raised more than $1 billion for its latest early- and growth-stage funds, Goodwater Capital V and Goodwater Infinity III.

Founded by Chi-Hua Chien, formerly of Kleiner Perkins, and Eric Kim in 2014, the Burlingame, CA-based firm manages over $3.3 billion in capital and has backed 79 early- and growth-stage startups across 19 countries.

The firm’s portfolio spans social media company musical.ly (acquired by Bytedance, China / US), fintech app Toss (S. Korea), ethnic grocery eCommerce leader Weee! (California), fintech company Stash (New York), global live entertainment platform Fever (Spain / UK), neighborhood social app Karrot (S. Korea), British neobank Monzo (UK).

The firm’s partners also made early investments in Coupang, Facebook, Kakao, Spotify and Twitter before launching Goodwater.

“With our laser focus on consumer tech, global portfolio of companies building market-leading digital consumer utilities, and software-enabled platform, we are energized to champion the success of the most promising consumer tech startups around the world,” said Kim.

The firm’s core funds are dedicated to Series A through Series D startups.

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Goodwater Capital

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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