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Capital Community

Lunar Startups Leadership Teams Up For New VC Firm

tundra-ventures-team

Tundra Ventures team (R to L): Adam Choe, Danielle Steer, Amanda Heyman

There’s a new fund in town, and it’s cold as ice.* Late last week, Tundra Ventures emerged from the frozen landscape and announced plans for a $10 million fund. Led by three familiar faces to the Minnesota startup scene (and Lunar Startups team members) — Amanda Heyman (Managing Partner), Adam Choe (Managing Partner), and Danielle Steer (Managing Partner)— the fund will target pre-seed and seed CPG, tech, and healthcare businesses but also has a particular focus on underrepresented entrepreneurs.

“Our team is trained to see potential that others overlook,” Heyman said in a LinkedIn post announcing the fund. “And we know how to nurture and de-risk that potential. That’s our secret sauce.”

Tundra also announced a group of initial investments, including three Lunar alumni (the fund says it’s working to, “formalize their alliance and catalyze their community”):

  • SoleSafe, a fintech company providing a cultural asset management platform and community for “sneakerheads” founded by Techstars and Lunar Startups alum Phil Terrill.
  • Maazah, a bright, bold, and balanced Afghan-style line of chutneys and condiments founded by Lunar Startups alum and current Kroger accelerator participant Yasameen Sajady.
  • We Sparkle, a mobile-first, AI-powered suite of tools tailored to small businesses and capable of hyper-growth in mobile-first markets, founded by Techstars and Lunar Startups alum Michelle Tran Maryns.
  • Runner, a curated labor marketplace that connects the most inclusive startups with operations talent, founded by Backstage Capital founder and Managing Partner Arlan Hamilton.

*That’s just a bad ice pun. The people involved are quite pleasant.

Alex Skjong
Alex oversees the content produced for BETA, Twin Cities Startup Week, and tech.mn. When he’s not writing or editing, there’s a good chance he’s enjoying a refreshing brew and explaining the merits of heavy metal (of which there are many).