Sorenson Ventures may not be a household name, but the slot Lehi, Utah-based company has quietly backed 30 startups since 2017 when it launched a $100 million startup fund, some of which is out of acquisitions and valuations that have been around for a while. Some flashy,
today the company announced it has raised its second funding. with an estimated value of $150 million. The company's co-founder and partner Rob Rueckert said he and co-founder Ken Elefant both had more than 15 years of investing experience when they launched
the company five years ago. Rueckert came from Intel Capital, while Elefant was incarcerated. At Lightspeed Venture Partners and Battery Ventures, both focus on B2B companies, and Rueckert sees that experience as a key differentiator for his companies.
Companies considering enterprise-level startups in the early stages and tends to write small checks in the $3 to $5 million range, Rueckert said, is unusual for his size.
“This is a $150 million fund, before it was only $100 million. Which is a bit special for Series A seed and mutual funds, simply because the funds used to be really great. in that period is now billion dollar fund