XYZ Venture Capital, led by Ross Fubini, has raised $325 million in two new funds and added partners Camille Ricketts and Art Clarke to their team from Notion and Apple. Fubini, who first met Cobi Blumenfeld-Gantz, CEO of Medicare-focused startup Chapter in 2020 through the Palantir alumni network, quickly presented an offer to kick off the next fundraise for Chapter. XYZ led Chapter’s $50 million round, signaling the firm’s commitment to going deeper with select companies and doubling down on their investments.
Fubini’s initial focus on investing in founders from the Palantir network paid off, with XYZ now managing $760 million in assets and hoping to become known for more than just their public sector and Palantir track record. With the addition of partners Ricketts and Clarke, the firm aims to move aggressively and find the next big thing in the venture capital world. Despite not having any major exits yet, XYZ’s investments in companies like Anduril have shown promising returns, positioning them for future success.
Fubini’s career was defined by a successful introduction within the tech industry that led him to cofound his own startup, CubeTree, which was later sold to SuccessFactors. His close connections within the Palantir network and experience as an operator have set him apart as a VC investor, with unique insights and ability to provide useful advice to the companies he invests in. Fubini’s early success with XYZ, initially focused on backing Palantir founders, has evolved to include a broader range of investments across various industries.
XYZ’s partnership has now doubled with the addition of Ricketts and Clarke, who bring valuable experience from their previous roles in the tech industry. The firm looks to continue writing checks at early stages, with a focus on public sector-facing businesses as well as companies outside that realm. With a track record of successful investments and a growing team, XYZ is poised for further growth and success in the venture capital space.
Despite a competitive market for U.S. defense tech and government-selling startups, XYZ remains well-positioned with investments in cybersecurity and defense tech startups. The firm’s expertise in selling to government agencies remains a key selling point, but they are actively seeking new opportunities in AI, healthcare, and other emerging sectors. With a focus on finding the next big thing and expanding their investment portfolio, XYZ is poised for continued success in the venture capital landscape.
