LA Venture Podcast


Carter Reum — M13

March 4, 2022

Series A

We couldn't be more excited for Carter Reum and M13's newly announced $400M Fund III.  There are still only a few funds in LA that are true lead Series A investors.

Carter tells us how they have doubled in size from Fund I to Fund II and again from Fund II to Fund III (it helps to have 11(!) unicorns in Fund I) and how their thesis has continued to evolve as they've built the fund.

Full transcript

Carter Reum is a co-founder of M13, one of the fastest growing venture funds in LA having just announced their new $400 million Fund III. M13 is a consumer tech fund with investments in Ring, Rothy’s, Daily Harvest, Cue, and many others. I just learned they had 11 unicorns in Fund I. And, of course, Carter just got married to Paris Hilton. Carter - Congratulations.

Thank you so much. I feel like the luckiest guy on the planet.

As I told people back in August when I decided to get married and raise the fund at the same time in a planning meeting, it seemed like a good idea. In retrospect, maybe I should have, you know changed the timing of those two things a little bit. Maybe not the wedding, at least the fundraising.

I want to hear a little bit about how you went from, I think Fund I was $100 million dollar fund, to approximately $200 million Fund II, to $400 Fund III, but maybe start me with more of the vision. What is the vision of M13? What are you building?[toggle]You know, the whole world is being disrupted and evolving. Uh, We think venture needs to evolve as well. And kind of what were the trends that led us to believe a new model was needed. And, you know, we invest in what we call the horizontal layer of consumer technology. So the way we describe it as technology used to be a vertical, and now it's obviously a horizontal layer that sits across every industry.