Former A16z partner to raise $100m for new venture firm debut

Bryan Kim submitted formation documents for his new venture Mido last month, according to a regulatory filing.

As first reported by the Wall Street Journal (WSJ), former partner at Andreessen Horowitz (A16z) Bryan Kim plans to raise roughly $100m for the debut fund of his new venture, Mido Capital. 

Kim submitted documentation for Mido in Delaware during July, the WSJ reported, citing a regulatory filing, and the first fund is earmarked for investment in early-stage consumer AI and other companies, according to individuals familiar with the details who spoke to the publication.  

In a post on LinkedIn three months ago, Kim announced that after five years he would be leaving A16z to start his own fund, and that it was the toughest career-based decision he had made to date. 

“I learned from the best partners and was privileged to work with incredible founders. So why leave? It is simply time to build. More to come on this. We are still so early in the AI revolution,” he wrote. 

“Abundant intelligence will fundamentally reshape what creators, consumers and coders can do, and compress the gap between individuals and institutions in ways we’ve never seen. It’s a unique moment in history and I want to be fully in it.”

He thanked his co-workers and clients before adding, “Now it’s time to paddle hard. I’ll be spending the next few days calling many of you who made my life at A16z so special. And I’m beyond excited to earn the right to work with the next generation of the most ambitious founders building for the people.”

Kim’s main area of expertise is consumer tech and artificial-intelligence deals. Among Kim’s ventures is AI company ElevenLabs, with A16z co-leading its Series A and B funding rounds. Kim has also invested in Function Health, which offers lab tests to consumers; online-invitations business Partiful; and mental health AI platform SlingshotAI.

In April of this year, Ulysses, founded in Dublin by Akhil Voorakkara, Will O’Brien, Jamie Wedderburn and Colm O’Brien, announced newly acquired funding would be used to build “the Ocean company” – its $38m Series A round was led by A16z. 

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