ONE WORLD Investments

About the fund

Ulu Ventures Fund III is an early-stage venture capital fund that closed in 2021 with approximately $138 million in committed capital, managed by Ulu Ventures and focused on investing in pre-seed and seed-stage technology companies in the United States. The fund deploys equity capital alongside strategic support to early-stage founders across sectors including enterprise software, health, fintech, and consumer technologies. A notable aspect of Ulu Ventures’ investment strategy — and one that contributes to its relevance for impact-oriented allocators — is its systematic emphasis on diversity and inclusion in founder selection and decision-making. The firm applies a data-driven investment process designed to reduce cognitive bias and broaden access to capital for underrepresented entrepreneurs; in Fund III, a high proportion of portfolio companies were led by women, minorities, or founders from diverse backgrounds. Fund III’s limited partner base included a mix of institutional investors, foundations, and mission-aligned investors, such as the John D. and Catherine T. MacArthur Foundation, reflecting support from capital allocators interested in both financial returns and inclusive startup ecosystems. Through its investment activity, Ulu Ventures aims to support founder diversity and broader entrepreneurial participation while pursuing venture capital returns, contributing to expanded opportunities within the early-stage technology ecosystem.