A local venture capital firm is committing to Denver’s Cherry Creek neighborhood with a new 10-year lease.
Konvoy recently celebrated the grand opening of its new 5,007-square-foot headquarters at 320 Fillmore St., a newly opened office and retail building at the northeast corner of East 3rd Avenue and Fillmore Street in Cherry Creek North.
The early-stage VC firm invests in platforms, technology and infrastructure companies within the gaming industry. It previously occupied a smaller office about two blocks away at the Financial House, 205 Detroit St.
“We picked Cherry Creek because it is one of the premier financial hubs in Denver,” Jason Chapman, Konvoy co-founder and managing partner, told the Denver Business Journal via email. “An increasing number of funds are choosing to headquarter here. It is walkable, safe and offers numerous restaurants, retail stores and hotels nearby for those visiting. We work in the office five days a week, and the location of our office matters.”
The new office features a gaming room, a media room to record podcasts, a large conference room, phone booths, dedicated offices for the firm’s partners and open workspaces. The space is used for Konvoy’s day-to-day operations in addition to events and board meetings for its portfolio companies, the firm said.
“This expansion enables us to grow and build on the strong foundation we’ve created,” Jackson Vaughan, co-founder and managing partner at Konvoy, said in a statement.
Brothers Josh Chapman and Jason Chapman and childhood friend Vaughan founded Konvoy in 2016 in New York City. Before launching the VC firm, Jason Chapman and Vaughan worked at IBM, and Josh Chapman worked for BlackRock and Morgan Stanley.
Konvoy relocated to Denver in 2018 and now has nine employees.
Konvoy typically invests between $3 million and $5 million in a startup company’s seed and Series A rounds.
“We focus on early-stage because that is where we believe we can find the best investment opportunities and be the most effective in diligence and decision making,” Vaughan told the DBJ via email. “We invest in the gaming industry, not only due to the expertise we have built over the years, but because it is incredibly large (bigger than film, television, and music combined) and continues to grow at an expected rate of 3.5% year-over-year, ... it offers two-way active interaction, which creates stronger engagement, buy-in and network effects for end users [and] it has broad applicability across the world.”
The firm said it has more than $260 million in assets under management and more than 50 companies in its portfolio, including Boulder-based Afference. (Afference is developing a wearable device that allows users to feel what they see in augmented and virtual reality environments. It participated in the 16th annual South by Southwest Pitch competition in Austin this year.)
Konvoy said it is actively making investments from its $150 million Fund III, which was announced in 2022. The company previously told the DBJ it planned to fund 30 startups over two years.
Its most recent investment was leading kid safety and compliance tech platform k-ID’s $5.4 million seed round, Jason Chapman said.
