Symphonic Capital, a venture capital firm founded by Sydney Thomas, has secured $13.5 million for its inaugural fund, which will focus on investing in early-stage companies in the healthcare and financial services sectors. The fund's mission is to support founders from diverse backgrounds, particularly those outside of the Bay Area, who are committed to building a more equitable future.

Thomas, who launched Symphonic Capital in 2022, brings her experience as the first hire at Charles Hudson's Precursor Ventures to her new venture. Her vision for Symphonic Capital is to create a community of diverse, values-aligned investors, founders, and ecosystem builders who share her commitment to promoting equity and accessibility in healthcare and financial services.

The fund's investment strategy will focus on check sizes of around $250,000, targeting early-stage companies that align with its mission. In a blog post announcing the fund, Symphonic Capital emphasized its belief that "everyone should have access to reliable healthcare and financial freedom, regardless of their race, gender, or ethnicity." By partnering with founders who share this vision, the firm aims to drive meaningful change in these critical sectors.

Symphonic Capital's inaugural fund has garnered support from a group of institutional investors who share the firm's commitment to promoting diversity, equity, and inclusion. This backing is a testament to the growing recognition of the importance of investing in underrepresented founders and the potential for impact-driven investing to drive positive change.

The launch of Symphonic Capital's inaugural fund comes at a time when the venture capital industry is facing increasing scrutiny over its lack of diversity and representation. According to a report by Crunchbase, only 2.2% of venture capital funding in 2020 went to startups founded by women, and just 1.8% went to startups founded by people of color. Symphonic Capital's focus on investing in founders from underrepresented backgrounds is a welcome step towards addressing this imbalance.

As Symphonic Capital begins deploying its inaugural fund, the industry will be watching closely to see the impact of its investments. With its commitment to promoting equity and accessibility in healthcare and financial services, the firm has the potential to drive meaningful change and create a more inclusive entrepreneurial ecosystem.

In the broader context, Symphonic Capital's launch highlights the growing trend of impact-driven investing in the venture capital industry. As investors increasingly prioritize environmental, social, and governance (ESG) considerations, firms like Symphonic Capital are well-positioned to capitalize on this shift. With its focus on promoting diversity, equity, and inclusion, Symphonic Capital is poised to become a leader in the impact investing space.