Vermilion Cliffs Ventures, led by solo general partner Ashley Smith, has successfully closed its second fund, securing $25 million to invest in early-stage startups. Founded in 2023, the firm focuses on supporting technical founders in sectors such as artificial intelligence (AI) infrastructure, cybersecurity, and developer tools.
Smith, who has a background in marketing roles at Twilio, Facebook, GitHub, and GitLab, raised the new fund in approximately four months, with significant contributions from existing investors. The firm plans to invest between $500,000 and $1 million per company, aiming to support at least 25 startups over the next two and a half years. To date, Vermilion Cliffs Ventures has already backed six companies under this new fund.
The firm’s inaugural fund, which raised $13 million, invested in 35 companies, including cybersecurity startup Keycard and AI infrastructure company CopilotKit. Smith emphasizes the importance of assisting founders with go-to-market strategies, particularly in selling to developers and security teams—a discipline she believes many founders learn through costly trial and error. By leveraging her extensive experience, Smith aims to help startups avoid common pitfalls and accelerate their growth.
The successful closure of Vermilion Cliffs Ventures’ second fund highlights the growing trend of solo general partners making significant impacts in the venture capital landscape. Smith’s focus on AI infrastructure and cybersecurity aligns with the increasing demand for innovation in these critical areas. As the firm continues to deploy capital, it will be interesting to observe how its portfolio companies evolve and contribute to advancements in technology and security.
