Vermilion Cliffs Ventures, a solo GP firm founded by Ashley Smith in 2023, has closed a $25 million Fund II. The fund targets technical founders building in AI infrastructure, security, and developer tools, with check sizes between $500K and $1M. Smith raised the fund in about four months, largely from existing LPs, and plans to back at least 25 companies over the next two and a half years. The firm's debut $13M fund backed 35 companies including Keycard and CopilotKit. Smith leverages her operator background at Twilio, Facebook, GitHub, and GitLab to help portfolio founders with go-to-market strategies for developer and security audiences.
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