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Key people at The 98.
The 98 was founded in 2022 by Joy Marcus (General Partner, Co-Founder).
The 98 is a venture capital fund specializing in late seed and early Series A investments in technology-focused, women-led companies. It provides strategic capital and operational guidance to accelerate portfolio growth. The firm identifies high-potential ventures that leverage innovative solutions across diverse tech sectors.
Co-founded by Joy Marcus, a recognized digital media and venture leader with over two decades of experience, The 98 was established on the insight into the significant, often undervalued, potential of women-led businesses. Its genesis stems from the understanding that female founders consistently deliver strong returns and drive impactful innovation.
The fund primarily serves promising technology startups led by women, facilitating their scaling and market penetration. The 98's overarching vision is to cultivate the next wave of industry-defining companies, fostering a more equitable and high-performing ecosystem for venture-backed innovation. It commits to building substantial value through strategic investments.
The 98 was founded in 2022 by Joy Marcus (General Partner, Co-Founder).
Key people at The 98.
The 98 has 1 tracked investment across 1 company. The latest tracked deal is $8.0M Series A in Paladin in May 2022.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| May 1, 2022 | Paladin | $8.0M Series A | World Within | GE Ventures, GSV Acceleration, Lazerow Ventures, Mechanism Capital, Northpond Ventures, Primetime Partners, Sound Ventures, Supply Change Capital, Vamos Ventures, Marc Benioff, Michael Rapino, American Family Insurance Institute For Corporate And Social Impact, C2 Ventures, Concrete Rose Capital, Engage, Hyde Park Venture Partners |
The 98 is an investment firm focused on backing innovative startups, particularly in sectors like AI-driven product innovation, nonprofit technology, and fintech for inclusive finance. Its mission centers on supporting mission-driven founders through strategic investments, as evidenced by recent portfolio additions such as Cambri (product innovation platform), Oply (founded by military veterans), Humanitru (AI-powered CRM for nonprofits), and Stratyfy (transparent ML for credit decisions).[2] The firm's investment philosophy emphasizes transformative technologies that address real-world challenges, with a track record of operating support via experienced partners like Lynda Clarizio and Joy Marcus, contributing to the startup ecosystem by enabling scalable growth in underserved markets.[2]
The 98's backstory is tied to its key partners, including Lynda Clarizio and Joy Marcus, who author investment announcements and guide the firm's direction. While exact founding year details are not specified in available sources, the firm's evolution is marked by a progression of investments starting from at least 2023, beginning with Stratyfy in April 2023 (founded 2016 by Laura Kornhauser and Dmitry Lesnik), followed by Cambri in December 2023, Humanitru in March 2025, and Oply in August 2025.[2] This timeline reflects a sharpening focus on AI-enhanced platforms and social impact ventures, humanizing the firm through partnerships with founders like Alan Wei and Megan Newman of Humanitru, who bring expertise in nonprofit optimization.[2]
The 98 rides the wave of AI democratization in enterprise tools, timing investments amid surging demand for transparent ML (e.g., Stratyfy's fair credit decisions) and AI-augmented workflows (e.g., Humanitru's donor insights), fueled by market forces like nonprofit digital transformation and inclusive fintech post-2023 AI boom.[2] This positions the firm to influence the ecosystem by bridging traditional sectors like nonprofits and consumer products with cutting-edge tech, amplifying startup momentum in a landscape where AI adoption drives efficiency and bias mitigation.[2]
The 98 is poised for expanded influence through continued bets on AI-native platforms, with trends like automated analytics and ethical AI shaping its portfolio trajectory—expect deeper dives into veteran-led and social impact tech amid 2026's projected investment management shifts toward alternatives and tech integration.[2] As it evolves, the firm's partner-led approach could amplify its role in startup scaling, tying back to its core as a catalyst for innovative, human-centered ventures.
