After dipping their toes into the world of venture capital with 20SALES, 20VC has returned four months later with a new offshoot fund known as 20GROWTH, which successfully secured $5 million in capital commitments.
Harry Stebbings, the founder of 20VC, disclosed to TechCrunch that the 20GROWTH fund will resemble 20SALES in its approach. Like its predecessor, 20GROWTH will provide funding, ranging from $100,000 and above, to pre-seed, seed, and Series A companies, with no plans for follow-on investments. The fund has already made an undisclosed initial investment and aims to support approximately 50 companies.
Stebbings is not only a limited partner and advisor to this new fund but has also brought in notable Limited Partners (LPs), including Harvard Management Company, SCS, and Arcano.
The concept behind 20GROWTH originated from Stebbings’ desire to bring together experts in growth and product from different companies to engage with his portfolio founders. As this community of experts grew, he saw an opportunity to harness their collective experience.
Stebbings remarked, “Venture value-add is a great myth. Operators, those are the people who are incredibly valuable. We did it with 20SALES first, which consisted of eight remarkable sales leaders.”
20GROWTH consists of a team of nine growth and marketing experts, each hailing from renowned companies such as Shopify, Dropbox, Pinterest, Airtable, DoorDash, Eventbrite, Facebook, and Ro.
The founding partners include Luc Levesque, Brian Hale, Casey Winters, Elena Verna, Hila Qu, Adam Fishman, Rob Schutz, Darius Contractor, and Sri Batchu. All of them will maintain their current positions and participate in the fund on a part-time basis.
Stebbings envisions 20GROWTH as a significant step toward reshaping the landscape of venture capital. He believes they are “unbundling” traditional venture capital by providing true operator value in a novel manner. In essence, 20GROWTH offers the unique opportunity to access the expertise of nine top-notch growth leaders with a single investment.
