Footwork, New VC Firm From Investor Nikhil Basu Trivedi And Former Stitch Fix Executive Mike Smith, Launches With $175 Million

On car rides from board meetings at the offices of produce delivery startup Imperfect Foods back to San Francisco, venture capitalist Nikhil Basu Trivedi and former Stitch Fix executive Mike Smith talked about ways to work together.

It took a few years, but now the duo have teamed up. The result: new VC firm Footwork, a $175 million early-stage fund and one of the few led by two investors of color.

An equal partnership, Footwork plans to invest between $1.5 million and $8 million initial checks to lead or co-lead seed and Series A deals, the partners say, with a focus on consumer companies and “consumerized” enterprise software

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