53 Stations Launches Inaugural $190M Fund to Invest in Early-Stage Tech Companies Across the U.S.

Rhea-AI Summary

53 Stations, ticker symbol 53S, a venture capital firm, announced its flagship $190 million Fund I, supported by The Pritzker Organization. The firm offers over 60 years of company-building expertise, single LP flexibility, and agility to meet entrepreneurs' evolving needs. It invests in early-stage companies across various industries, providing access to mature businesses in the TPO portfolio. 53 Stations is focused on investing in founders with clear organizational vision and prides itself on being a long-term capital partner, serving less as a traditional VC firm and more as a 'whatever-it-takes' service provider.

Positive

• Flagship $190 million Fund I announced
• Over 60 years of company-building expertise
• Provides access to mature businesses in the TPO portfolio
• Focused on investing in founders with clear organizational vision

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• None.

 Supported by The Pritzker Organization, new firm builds on 60 years of successfully scaling businesses, offering early access to mature businesses in the TPO portfolio

CHICAGO CHICAGO--(BUSINESS WIRE)-- 53 Stations, a venture capital firm that invests in early-stage companies across a range of industries, today announced its flagship $190 million Fund I. Supported by The Pritzker Organization (TPO), 53 Stations offers more than 60 years of company-building expertise, the flexibility of a single LP, and the agility to meet the evolving needs of today’s entrepreneurs.

Kevin King co-founder and general partner; Jason Pritzker, co-founder and managing partner; Kelly Goldstein, partner and head of platform. (Photo: Business Wire)

"Our founding team has firsthand experience as founders, investors and leaders of high growth teams; collectively, we favor collaborating with entrepreneurs in the earliest days to help identify market opportunities and the best paths to pursue them," said Jason Pritzker, Co-Founder and Managing Partner at 53 Stations. "Our investments to date share the potential to change how their industries operate and reflect a desire to channel the Pritzker legacy into cultivating a new era of lasting businesses.”

The Pritzker Family Business Interests, including the 53 Stations’ primary LP, all advised by TPO, has a broad portfolio that includes companies such as Hyatt, KBP Foods, Lithko, Epic Staffing and Steward Partners. Similarly, 53 Stations is industry-agnostic, and is not restricted by investment mandates or fundraising demands. 53 Stations both leads and co-invests, writing initial checks from seed to Series B stage, and offers unfettered access to mature businesses in the TPO portfolio, whose executives can serve as advisors and potential customers to 53 Stations’ portfolio companies.

“53 Stations is laser focused on investing in founders with clear organizational vision and the tenacity required to build enduring businesses,” said Kevin King, Co-Founder and General Partner at 53 Stations. “53 Stations prides itself on being a long-term capital partner, serving less as a traditional VC firm and more as a ‘whatever-it-takes’ service provider. To promote responsible growth and support each company’s specific needs, we bring agile private equity rigor at venture speed and operating experience to all of our investments.”

To date, 53 Stations has invested in seven companies across five industries, including:

• Altana, an AI-driven platform that navigates the complexities of global trade compliance
• Black Buffalo, producer of smokeless tobacco alternatives
• Collective, an all-in-one financial solution, including a back-office platform that handles taxes and bookkeeping, tailored to the unique needs of freelancers and independent contractors
• Flux.AI, developer of a modern, browser-based software platform to make hardware design easy
• Whisper Aero, a developer of advanced propulsion technologies that create cleaner, quieter, and more efficient thrust solutions for flight and air movement applications

The Chicago-based firm was founded in 2022 by Pritzker, Managing Director and Vice Chair, TPO; King, former Partner at General Catalyst; and Kelly Goldstein, a venture investor formerly with HQ and Harlem Capital. Pritzker serves on the Board of Directors of Hyatt Hotels Corporation, Lithko Contracting, and Omni Logistics. While at General Catalyst, King co-led investments in Carma, Kazoo, Kavak, and Resilience, and led the IPO and sourcing efforts for the firm’s Enterprise Software Public Market Vehicle known as Catalyst Partners (NASDAQ: CPAR).

“53 Stations is a natural evolution of TPO’s recent focus on growth equity, and reflects our commitment to nurturing the best entrepreneurial talent and ideas for the long-term,” said Joseph Gleberman, CEO, The Pritzker Organization. “The firm’s founders are not only proven investors, but skilled at building culture and teams and will be partners dedicated to ensuring founders have the resources they need - whether that be financial, human, or social capital.”

Recent TPO growth equity investments include Dataminr, Nimble Robotics, Palantir, Blue Voyant, SpaceX and Uber.

The 53 Stations name is inspired by a parable of a young pilgrim seeking enlightenment who engages with 53 teachers or stations on his path — each taught him something new and asked him to apply that wisdom on his journey. "53 Stations" serves as a tribute to a founder’s journey and reflects the 53 Stations’ investment ethos, which is rooted in humility and the relentless pursuit and application of knowledge. To learn more about 53 Stations or pitch the investment team, visit www.53stations.com or contact info@53stations.com.

About 53 Stations

53 Stations is a Chicago-based venture capital firm supported by The Pritzker Organization (TPO). The firm invests in early-stage, tech-focused businesses across a range of industries, driven by their conviction in top-tier founders who couple vision with the discipline required to build enduring businesses. With a flexible mandate and access to TPO to invest across opportunities and timeframes, 53 Stations brings a unique structure and approach – one that allows them to invest with the freedom and scale to build companies that endure. To learn more, visit 53stations.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231122201474/en/

Media:

Whitney Topping

whitney@walkercomms.com

Source: 53 Stations

FAQ

What is the name of the venture capital firm that announced the $190 million Fund I?

The venture capital firm is 53 Stations, with the ticker symbol 53S.

Who supports 53 Stations' flagship Fund I?

The flagship Fund I is supported by The Pritzker Organization (TPO).

What is the investment focus of 53 Stations?

53 Stations invests in early-stage companies across various industries and provides access to mature businesses in the TPO portfolio.

What is 53 Stations' approach to investing in founders?

53 Stations is focused on investing in founders with clear organizational vision and prides itself on being a long-term capital partner, serving less as a traditional VC firm and more as a 'whatever-it-takes' service provider.