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Velveteen Ventures: Betsy Fore’s New Fund Honors Heritage, Builds the Future
July 15, 2025
Betsy Fore still remembers the Velveteen Rabbit she received as a child — a thrift store find from her grandmother that sparked the belief that with enough love, anything could come alive. That cherished gift has now become the symbolic name behind Velveteen Ventures, Fore’s newly launched venture capital firm, which officially came to life this week.
And just like the rabbit, Velveteen Ventures carries with it a bigger mission: to back companies that aim to be deeply real, lasting, and purpose-driven.
From Founder to Fund Builder
Fore is no stranger to the startup world. Over nearly two decades, she’s built and led companies including:
Tiny Organics, a baby food startup that made her the first Native American woman to raise a Series A
Wondermento, a consumer app builder
After years of building from the ground up, Fore says she had a realization: “Instead of building one thing, I can help other founders build dozens of life-changing companies.” That insight set the stage for her shift from entrepreneur to investor.
“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,” Fore told TechCrunch.
Velveteen Ventures will be based in the Midwest and focus on investing between $500,000 and $4 million into seed and Series A startups. Its sector focus spans healthcare, climate, consumer, and community — verticals that touch both quality of life and future impact.
One of the Few — and Making It Count
What makes this launch even more remarkable is Fore’s background: she is one of the very few Native American women to ever launch a venture capital firm in the United States.
The representation gap is stark. When TechCrunch tried to pull funding data on Native American founders in recent years, the numbers were so low they were almost statistically invisible. Fore isn’t just aware of this disparity — she’s actively working to change it.
Alongside her investing work, Fore runs a nonprofit that provides mentorship and opportunity pipelines for Native American founders. With Velveteen Ventures, she’s aiming to go even further, directing both capital and attention to underrepresented voices — without branding the fund as “impact-first.”
“While not an impact fund,” Fore said, “Velveteen plans on proving that profits and purpose go hand in hand.” A portion of the fund’s carry will go directly to support Native American tribes.
Backed Early, Building Bold
Though Fore didn’t publicly disclose the total fund size, SEC filings show that fundraising began in October 2024. So far, it’s off to a strong start.
“It’s been thrilling to have held institutional closes out the gate,” she said, emphasizing support from “purpose-driven institutions” that believe in the Midwest’s potential as an innovation hub. “I have found that when we do bring on an LP, it’s because they were searching for us.”
A Team That Reflects the Mission
Fore isn’t going it alone. Joining her in building Velveteen is Karla Brollier, also of Native descent, who will lead the firm’s climate investments. Brollier hails from Patagonia and brings a perspective shaped by both environmental urgency and community wisdom.
Katherine Stabler rounds out the founding team as chief operating officer, bringing decades of experience as an attorney specializing in private funds.
Together, the trio brings a mix of startup grit, legal rigor, and deep cultural purpose — a rare combination in venture capital.
Velveteen Ventures is betting that founders don’t need to trade mission for scale, or profit for principle. And if the firm succeeds, it will not only deliver strong returns — it will help rewrite who gets to sit at the head of the table in tech’s next chapter.
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