Observed Signal · Jul 8, 2026 · Funding · Source: techcrunch · Impact: 2/5 · Sentiment: Positive
Solo GP Ashley Smith Closes $25M Fund II
Vermilion Cliffs Ventures, founded by operator-turned-investor Ashley Smith in 2023, closed a $25 million Fund II. Smith — one of the relatively few solo woman general partners in VC — says the fund will continue to back technical founders building in AI infrastructure, security, and developer tools. The raise took about four months and relied heavily on existing investors. Fund II plans average checks of $500,000–$1 million, hopes to invest in at least 25 companies over the next 2.5 years, and has already backed six companies. The firm’s debut $13 million fund previously backed 35 companies, including cybersecurity startup Keycard and AI infrastructure company CopilotKit.
Early-stage $25M VC fund focused on AI infrastructure, security and dev tools can seed startups in technologies relevant to the broader tech ecosystem but is not a market-shifting capital event.
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Key Takeaways & Evidence Grounding
- Vermilion Cliffs Ventures closed a $25 million Fund II.
- Vermilion Cliffs Ventures was founded in 2023 by Ashley Smith.
- Fund II average check size is planned between $500,000 and $1,000,000.
- The fund hopes to invest in at least 25 companies over the next 2.5 years and has already backed six.
- The firm’s prior $13 million debut fund backed 35 companies, including Keycard and CopilotKit.
Connected Companies & Entities
4 Entities mapped“From her experience working in marketing at Twilio, Facebook, GitHub, and GitLab, she hopes to help founders with go-to-market strategies th...”
“From her experience working in marketing at Twilio, Facebook, GitHub, and GitLab, she hopes to help founders with go-to-market strategies th...”
“Speaking to TechCrunch, Smith said this fund will continue the firm’s thesis of backing technical founders, specifically those building in A...”
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