Base10 Partners’ $250 Million Second Fund Formation

Morrison & Foerster LLP advised Base10 Partners on the deal.

Base10 Partners formed its second venture fund with capital commitments of $250 million, creating Base Fund II.

Founded in 2017 in San Francisco, Base10 is led by Adeyemi Ajao and TJ Nahigian. The new fund brings the firm’s AUM to over $400 million, now making it the largest black-led VC fund. The new fund will invest in startups and back a handful of initiatives designed to diversify the industry. Already, more than 60% of its portfolio companies thus far have women or minority founders.

The MoFo team that advised Base10 Partners was led by partners Private Funds co-chairs Paul ‘Chip’ L. Lion III (Picture) and Stephanie C. Thomas and included associates Emiko Kurotsu and Jennifer Ta.

Involved fees earner: Emiko Kurotsu – Morrison Foerster; Paul Lion III – Morrison Foerster; Jennifer Ruth Ta – Morrison Foerster; Stephanie Thomas – Morrison Foerster;

Law Firms: Morrison Foerster;

Clients: Base10 Partners;

Author: Ambrogio Visconti