Conviction Partners Closes Second Flagship Fund at $230M

Conviction Partners secured $230M in capital commitments at the close of its second flagship fund, Conviction Partners Fund II.

Mike Vernal, a new partner at the San Francisco-based artificial intelligence-focused venture capital firm, confirmed the fundraising via a February 1 LinkedIn post. Fund II closed at its target, surpassing its predecessor, Conviction Partners Fund I. The first fund closed at $101M, according to a January 31 TechCrunch report, putting it just short of the $105M target disclosed in an SEC filing.

Conviction injects capital in early-stage companies focusing on AI, enterprise software and generative AI. Vernal, who was a former partner at Sequoia Capital and VP for product and engineering at Facebook, said Conviction is eager to use the fresh capital to partner with "smart, technical, driven founders."

Written By: Dakota

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Conviction Partners Closes Second Flagship Fund at $230M

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