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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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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