SNAK Venture Partners raises $50M fund to back vertical marketplaces | TechCrunch

SNAK Venture Partners raises $50M fund to back vertical marketplaces | TechCrunch

Briefly

"SNAK Venture Partners announced Wednesday the close of its oversubsubscribed $50 million debut fund, anchored by the investment firm Pritzker Group (founded by Illinois governor JB Pritzker and his brother, Tony). SNAK founders Sonia Nagar and Adam Koopersmith worked at the firm and helped lead investments in companies like the auto marketplace Backlot Cars and TicketsNow (exited to Ticketmaster). The duo decided to break out on their own and, earlier this year, launched their firm to back digital marketplaces."

"The vision is that there is still so much to digitize, like in supply chain and construction, and this is the moment to strike because even holdout industries are more comfortable adopting new technology as fintech architecture advances. "If you look at the biggest venture wins over the last decade," she said, pointing to the likes of Uber, Instacart, and Airbnb, "those are five of the top 10 outcomes in venture.""

""Most of those wins were in consumer, which tends to be faster-moving than large enterprises," Nagar continued. "We think there's a ton of white space to double down and focus on B2B marketplaces." Looking specifically for the categories that haven't yet digitized. The firm has already invested in six companies, including BigRentals and Repackify, focused on equipment rental and packaging logistics, respectively."