Swell VC, a New York-based early-stage venture capital firm focused on investing in market-defining opportunities, closed $11.5 million in commitments.
The fund’s backers include diverse investors, from successful founders to family offices spanning tech, finance, and real estate, NYC tech investors, and even Fortune 500 executives. This broad support, following Fund I’s performance, marked by DPI-producing acquisitions and hands-on involvement from General Partners, underscores the stability and growth potential of Swell VC.
Swell VC’s portfolio composition
With $19 million in Assets Under Management (AUM) across two funds and a special purpose vehicle (SPV), Swell VC has adopted a concentrated portfolio strategy that has yielded significant results. Their portfolio includes investments like ScienceIO, a DPI-producing acquisition, and Loft Orbital, a space tech leader serving major clients like Microsoft Azure, Honeywell, and the U.S. Federal Government, with over $100 million in revenue.
Other investments include Crisp, which has raised $97M to transform the CPG supply chain and serves over 6,000 customers, including 80+ top CPG brands, and CredalAI, which secured $4.8M in seed funding to provide secure data infrastructure for AI applications, with clients like TransferWise, MongoDB, and Checkr.
Speaking to TFN, Rusty Ralston, co-founder and GP at Swell VC, explained their approach: “We focus on high-conviction, smart bets across a concentrated portfolio. Partnering with extraordinary founders who are going after massive industries has proven to be the right approach. By concentrating on fewer investments, we ensure that each company we back has the potential to deliver outsized returns.”
Ralston continued: “What’s just as exciting is that our portfolio companies are beginning to establish themselves as industry leaders. We’ve already returned capital to our LPs, yet the real upside remains. Companies like Loft Orbital and Crisp are scaling rapidly following Series B raises. Loft Orbital now generates over $100 million in revenue, serving major clients like Microsoft Azure and the U.S. government. After raising $72 million in Series B funding, Crisp is becoming an industry leader in supply chain data infrastructure, working with major brands like Walmart, Target, Nestlé, Kraft, and Unilever.”
A founder-first investment approach
Swell VC’s deep commitment to helping founders build exceptional teams sets it apart. The firm’s founders, Ralston and Patil, bring over 14 years of experience in evaluating and recruiting top-tier talent, honed as early employees at an AI talent assessment startup.
Are Traasdahl, CEO of Crisp, attests to this unique value proposition: “Rusty and Jay have personally recruited over 50 go-to-market hires across my startups, TapAd and Crisp, helping us find the top 1% of candidates to drive success. Beyond that, they’ve introduced us to investors, customers, and partners who’ve made a real difference.
One smart investment at a time
With Fund II now closed, Swell VC targets sectors at the forefront of transformative shifts. These include B2B infrastructure, AI, space technology, healthcare, commerce, and defence.
Ralston concluded: “Fund II is all about backing founders who are building the future. We’re betting on those solving significant customer problems without the hype, and we’re committed to offering hands-on recruiting support to help them create the next generation of companies that truly matter.”
As Swell VC continues to make waves in the venture capital world, its success story reminds us that less is more when it comes to impactful investing. And that’s precisely what they’re doing, one smart investment at a time.
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