More details are out today on a new venture capital firm from some big names in the Boston tech community. Assemble.VC is looking to raise a $75 million initial fund, according to an SEC filing. While the filing doesn't indicate that any part of the fund has been committed already, a report in Fortune's Term Sheet indicates the fund is more than halfway closed so far.
Meanwhile, two of Assemble.VC's founders, Michael Skok and C.A. Webb, told me they’re looking to be distinct from other VC firms in a number of ways—including with a focus on preparing a new generation of VCs and building the local tech community through their work.
More specifics will be disclosed when Assemble.VC does a formal announcement of its fund, but the founders did share details on what their titles will be at the firm, suggesting what sort of roles they’ll fulfill:
• C.A. Webb, community partner. She was previously executive director of the New England Venture Capital Association for four years and left the group in the fall to help launch the new firm.
• Michael Skok, investing partner. He was previously a well-known partner at North Bridge Venture Partners.
• John Pearce, operating partner. He was formerly CEO of Demandware.
Assemble.VC has also brought aboard a principal, Richard Dulude, who was previously an associate with Founder Collective.
The foundation of the firm came from a “listening tour” that Skok embarked on after leaving North Bridge in the fall of 2014. In interviews with 300 entrepreneurs, Skok said he got a far better sense of what entrepreneurs are looking for in a VC. Part of the philosophy underpinning Assemble.VC is that “it takes a community to build a company,” Webb said, and so connections with the community will be front and center at the firm.
The firm also is committed to nurturing the next generation of VCs, many of whom will likely come up through the entrepreneurship route, Skok said.
Assemble.VC, which will be focused on investing in early-stage tech companies, is working out of the headquarters of Acquia on State Street in Downtown Boston. Skok noted that this wasn’t a coincidence, as Acquia had actually gotten its own start by working out of North Bridge’s office.
