Betsy Fore Launches Velveteen Ventures, Championing Midwest & Native Founders
A New Chapter in Venture Capital
Inspired by a childhood Velveteen Rabbit, entrepreneur Betsy Fore has launched Velveteen Ventures, her new firm focused on investing in early-stage companies. Fore, who has nearly two decades of experience building startups, aims to support dozens of transformative businesses from the investor’s side of the table.
Investing in Impact and Innovation
Velveteen Ventures will target investments ranging from $500,000 to $4 million in seed and Series A funding rounds. The firm plans to back 15 to 20 companies primarily within the healthcare, climate, consumer, and community sectors. While not solely an impact fund, Velveteen Ventures intends to demonstrate that profitability and purpose can coexist, with a portion of Fund I’s carry designated for Native American tribes.
Betsy Fore previously co-founded Tiny Organics, a baby food company where she made history as the first Native American woman to secure a Series A funding round. Her entrepreneurial journey also includes the app builder Wondermento.
“I realized after building companies for nearly two decades that I could make the greatest ripple in this one precious life by being on the other side of the table.”
—Betsy Fore
Fore’s venture is particularly significant as she is among a select group of Native American women to establish a venture capital firm in the United States. Her commitment to increasing representation in the industry is further underscored by her work with a nonprofit dedicated to mentoring and creating opportunities for Native American founders.
A Vision for the Midwest and Beyond
The firm is based in the Midwest, a region Fore believes offers strong investment potential. She expressed excitement about securing institutional backing from purpose-driven investors who recognize the value of opportunities outside traditional tech hubs. “I have found that when we do bring on an LP, it’s because they were searching for us,”
she remarked.
Joining Fore at Velveteen Ventures are Karla Brollier, who will lead climate investments and is also of Native descent, and Chief Operating Officer Katherine Stabler, who brings extensive legal experience from private funds. Fore is also set to release a book on entrepreneurship and venture capital.
The launch of Velveteen Ventures aligns with broader trends in venture capital, as investors increasingly seek to deploy capital into underserved regions and diverse founder networks. For instance, venture capital investment in startups led by women of color has seen growth, though significant disparities remain. In 2023, startups founded by women received approximately 1.9% of all venture capital funding, a slight increase from previous years but still highlighting the ongoing need for more inclusive investment (PitchBook, 2024).
Betsy Fore hopes to honor her heritage through her work, emphasizing that Velveteen Ventures is poised to prove that substantial returns can be achieved through mission-aligned investing.
