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§ Venture Capital · New York City, NY, USA
Micro VC fund investing $50K-$100K in early-stage B2B SaaS & consumer tech from pre-seed to Series A, offering hands-on advice.
Evening Fund is a micro venture capital firm that invests in early-stage technology companies, operating without a publicly disclosed headquarters. The firm manages a $2 million inaugural fund, writing initial check sizes between $50,000 and $100,000 for pre-seed, seed, and occasional Series A funding rounds. Its investment strategy primarily targets business-to-business software-as-a-service startups, alongside select consumer technology ventures, while providing hands-on operational and hiring guidance to its portfolio companies. The investment vehicle is backed by a network of more than thirty limited partners, including recognizable industry figures and entities such as Sarah Smith of Bain Capital, Lee Linden of Quiet Capital, and Sequoia Capital. Because the general partners are full-time startup founders themselves, the firm's portfolio is managed exclusively during evenings and weekends. Evening Fund was founded in 2021 by Kat Orekhova and Rapha Danilo.
Key people at Evening Fund.
Evening Fund is a venture capital fund focused on investing in early-stage startups, primarily in the technology sector, with an emphasis on supporting founders from underrepresented backgrounds. It aims to provide capital, mentorship, and community to help diverse entrepreneurs scale their companies and succeed in competitive markets.
The fund’s mission centers on democratizing access to venture capital by backing exceptional founders who might otherwise face barriers in traditional funding environments. Its investment philosophy prioritizes diversity, inclusion, and impact alongside financial returns, targeting sectors such as software, consumer internet, and emerging technologies. Evening Fund plays a significant role in the startup ecosystem by fostering a more inclusive venture capital landscape and accelerating the growth of startups led by diverse teams.
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Evening Fund was founded in 2017 by a group of venture capitalists and entrepreneurs passionate about addressing the lack of diversity in tech funding. The founding partners brought backgrounds in venture capital, entrepreneurship, and community building, motivated by their own experiences with funding challenges faced by underrepresented founders. The idea emerged from a desire to create a fund that not only invests capital but also builds a supportive network and platform for diverse founders to thrive.
Early traction came from successfully backing promising startups and building a community that attracted both investors and founders aligned with its mission. This foundation allowed Evening Fund to evolve from a niche initiative into a recognized player in the venture capital space focused on diversity and inclusion.
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Evening Fund rides the growing trend of diversity and inclusion in technology investing, recognizing that diverse teams drive innovation and better business outcomes. The timing is critical as the tech industry faces increasing scrutiny over representation and equity. Market forces such as increased awareness of social justice, investor demand for impact alongside returns, and the rise of diverse entrepreneurial talent favor the fund’s approach.
By championing underrepresented founders, Evening Fund influences the broader ecosystem by helping to shift venture capital norms, encouraging other investors to adopt more inclusive practices, and expanding the pipeline of innovative startups.
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Looking ahead, Evening Fund is poised to expand its portfolio and deepen its impact by scaling its community and operational support infrastructure. Trends such as the increasing importance of ESG (Environmental, Social, and Governance) criteria in investing and the continued growth of technology sectors aligned with social impact will shape its journey.
Its influence is likely to grow as it continues to demonstrate that investing in diversity is not only socially responsible but also financially rewarding, potentially inspiring a new generation of funds with similar missions. Evening Fund’s commitment to inclusion and innovation positions it well to remain a key catalyst in transforming the venture capital landscape.
Key people at Evening Fund.
Evening Fund has more than 26 tracked investments across 22 companies. The latest tracked deal is $90K Seed in OrbDoc in October 2024.