North Bay's Homegrown Venture Fund Closes $11 Million Second Round to Back Marin and Sonoma Startups

A venture capital fund built around the idea that North Bay money should stay in the North Bay has finished raising its second fund. Marin Sonoma Impact Ventures, based in Corte Madera, announced on Oct. 8 that MSIV Fund II closed with more than $11 million.

Local money, local companies

The group calls itself the North Bay's first and only regional venture capital fund. According to its announcement, Fund II drew 60 limited partners, and 98% of the capital came from residents or institutions in Marin and Sonoma counties. A majority of the largest investors in the first fund came back for the second. The Redwood Credit Union Community Fund made a $1 million commitment.

The new fund more than doubles the firm's assets under management to over $17.7 million. Counting both funds, MSIV says it now has 93 limited partners and has put more than $8.66 million into 22 startups based in the two counties.

Where the money is going

The Press Democrat reported that Fund II opened to investors in March 2025 and closed last month. The first fund is fully invested across 13 companies, and the second has already made nine investments. The firm has named six of them: Gable, Lighthouse Pharmaceuticals, Lumo, OLarry, Skribe Medical and Your360 AI, which the paper said span agriculture, biotechnology, financial technology and artificial intelligence.

One example is Skribe Medical, which is developing a wearable sensor patch to monitor heart function in cancer patients. The Press Democrat reported that the patch draws power from a smartwatch instead of carrying its own battery, with the goal of helping oncologists catch possible heart damage from treatment sooner.

An "Invest Local" pitch

Founder and managing partner Zachary Kushel said in the announcement that the fund will build on its first and "further advance our 'Invest Local' movement," keeping its focus on promising founders in Marin and Sonoma. The announcement came on the five-year anniversary of the first fund's initial close.

For North Bay founders, the practical takeaway is that a local check-writer has fresh money to deploy, at a time when most venture dollars in the region still flow to San Francisco and Silicon Valley.