Tomasz Tunguz’s Principle Ventures has raised a $450 million second fund, filings say

The agency was began in 2023 by Tomasz Tunguz, a former managing director at enterprise capital agency Redpoint. Tunguz made his identify at Redpoint with investing wins like knowledge analytics firm Looker—offered to Google-parent Alphabet for $2.6 billion in 2019—and customer support software program startup Kustomer, acquired by Fb-parent Meta in 2020 for a reported $1 billion. 

This second fund of $450 million is a serious step up from final yr’s first fund of $230 million. So far, Tunguz and Principle’s investments embrace knowledge infrastructure platform Allium, blockchain infrastructure firm Initia (final valued at $350 million), and open supply knowledge operations startup Tobiko. 

Principle describes itself as a “theory-driven” agency, and tends to spend money on enterprise software program, AI, crypto, and knowledge instruments. Among the many early VC bloggers with a considerable social media following, Tunguz co-wrote a guide known as Successful with Knowledge in 2016. 

Principle Ventures declined remark.