In a venture capital landscape filled with stalled exits and rising uncertainty, Scribble Ventures’ third fund is a rare win story. Led by Elizabeth Weil, the firm has secured $80 million—its largest fund to date—beating its original $75 million hard cap after just a few extra weeks of fundraising.
Weil, a Stanford alum and former Andreessen Horowitz partner, has carved out a distinctive path through an increasingly difficult funding environment. While many emerging managers from the 2020–2021 boom struggle to show meaningful returns, Scribble has leaned on deep relationships and early wins to keep momentum strong.
“Everyone warned me this would be the hardest fund to raise,” Weil said on a call after a 5:30 a.m. swim-run combo that sets the tone for her discipline. “But we stayed focused and got it done.”
The Scribble Network: A Quiet Superpower
What gives Scribble its edge isn’t just early bets—it’s the Scribble Network, a curated group of operators, executives, and co-investors who add depth far beyond capital. These allies include leaders like OpenAI’s Maggie Hott, Meta VP Jim Everingham, and Figma’s Sheila Vashee. Founders working with Scribble don’t just get a check—they get a phonebook of elite support.
Weil’s husband, Kevin Weil—chief product officer at OpenAI and a Cisco board member—adds another layer. His technical insight complements Elizabeth’s investment savvy, giving Scribble founders a balanced and practical brain trust.
“When we ask our founders, ‘Who do you want to meet from our network?’ and they realize they can actually text these people—it’s a game-changer,” said Weil.
This collaborative model has helped Scribble back breakout startups like Whatnot, Atmo, and Poolside.ai. Whatnot, a live shopping platform, was valued at nearly $5 billion in January. Poolside, founded by GitHub’s former CTO, reached a $3 billion valuation in late 2023. Scribble also holds positions in SpaceX, Figma, Mysten, and Aptos—crypto bets that already returned early profits.
Scribble’s Approach: Flexible Capital, Long-Term Vision
Weil’s philosophy on ownership is equally founder-friendly. Rather than chasing arbitrary percentages, Scribble writes checks between $750K and $1.5M, often as part of syndicates. “Saying ‘we must be at 14% or we walk’ isn’t how we build relationships,” Weil said.
Scribble’s first fund, raised in 2020, has already posted a 4x multiple, partly thanks to early crypto exits. Now managing $216 million in assets, the firm is doubling down on sectors like AI, where competition is fierce but opportunity is vast.
“I think this is the best time to be a startup,” Weil said. “But it’s also the hardest. There’s so much noise. Founders need to find product-market fit faster and smarter. That’s where we come in.”
