PayPal and Carta were among the LPs that have backed the early-stage venture firm’s first fund, which will invest in e-commerce technology startups.

US-based venture capital firm Interlace Ventures secured $14m for its first vehicle yesterday, from backers including digital payment processor PayPal and equity management technology provider Carta.

The limited partners also included Bain Capital Ventures, the venture capital arm of private equity firm Bain Capital, in addition to unnamed family offices and individuals.

Founded in 2019, Interlace Ventures is targeting pre-seed and seed-stage commerce technology developers operating in a post-pandemic context, and intends to back up to 30 companies through the…

Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.