Joe Montana is considered to be one of the greatest quarterbacks to ever play in the NFL. Drafted in the third round back in 1979, Montana would later lead the San Francisco 49ers (also played for the Kansas City Chiefs for two years) to four Super Bowl victories, in-which, Montana would be named “MVP” in three of the four. In 2000, Joe Montana was inducted into the NFL Hall of Fame. While Montana is a household name for his time in the NFL, the legendary quarterback is making waves in a new industry: venture capital.
In 2015, Montana and business associate, Ron Conway, partnered with two successful entrepreneurs to create an early-stage venture capital firm called Liquid 2 Ventures. “His partners include Mike Miller, who co-founded Cloudant – a database service that eventually sold to IBM (NYSE: IBM) in 2014 – and Michael Ma, who co-founded TalkBin – a customer feedback platform that sold to Alphabet subsidiary Google in 2011,” according to Fox Business. Paul Graham, co-founder and partner at Y Combinator is also a board advisor for the firm.
Liquid 2 Ventures Building An Impressive Portfolio
Within the first two years of operations, Liquid 2 Ventures was already making a splash in the venture capital world. The firm has made over 90 investments into seed companies, including: GitLab, Crowd Cow, Rappi, Captain401, and others.
Montana says part of his strengths in the business world revolve around his relationships and ability to network. Liquid 2 Ventures is not your typical VC firm, which Montana and rest of the team are quick to point out.
“One of the things that we do is not just invest in companies, we actually go in and we offer to help in any way that we can,” Montana says. “We bring a lot of value to the table, not just capital, which when you invest some people think that the hard part is over but it’s just beginning in trying to make sure that companies are growing the right way and finding the right people to hire. It’s a big process and it is a lot more work than the fund side of things. I can tell you that.”
Liquid 2 Ventures Raising Capital For Second Venture Fund
In recent news, Liquid 2 Ventures has recently filed a Form D with the U.S. Securities and Exchange Commission (SEC) regarding fundraising for a second venture fund, Liquid 2 Ventures Fund II, L.P. In the filing dated April 16, 2019, the new fund is looking to raise a total amount of $50 million. According to the Form D, the new fund has received investments totaling $37.67 million thus far, leaving $12.33 million still available for subscribers.
There is no specific mention whether or not the second venture fund will take a different approach or niche focus than the firm’s first fund. According to Crunchbase, Liquid 2 Venture’s first fund originally raised $40 million.
Overall, Joe Montana continues to excel even off the football field. Montana’s Liquid 2 Ventures is making a name for itself within the venture capital industry, as the firm his made up of successful and well-connected entrepreneurs. As the firm’s second fund raises money and prepares for launch, the story of Liquid 2 Ventures is just beginning to unfold.