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."

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Written By: Dakota

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