Velveteen Ventures is a newly launched venture capital firm founded in 2025 by entrepreneur Betsy Fore, marking a rare Native American-led VC firm in the United States. Based in the Midwest, Velveteen draws its name from the cherished childhood story "The Velveteen Rabbit," reflecting the firm’s core belief that with the right care and backing, powerful ideas can come to life. The fund is deeply rooted in purpose-driven investing while maintaining a strong commercial focus.
Velveteen Ventures targets early-stage companies in the seed to Series A range, with check sizes between $500,000 and $4 million. The firm invests across four primary sectors: healthcare, climate, consumer, and community.
Its geographic emphasis includes the U.S. Midwest and other overlooked regions, with a mission to unlock value in areas often underrepresented in traditional venture capital.
Though the firm has not publicly disclosed the target size for its debut fund, SEC filings show fundraising efforts began in October 2024. Founder Betsy Fore confirmed that Velveteen has already secured institutional closes and is backed by mission-aligned LPs who believe in both the financial and social ROI of investing beyond coastal tech hubs.
The fund aims to support 15 to 20 companies, providing not only capital but also mentorship and strategic guidance, particularly to founders from underserved backgrounds. A portion of Fund I’s carry is pledged to Native American tribes, underscoring the firm's long-term commitment to economic inclusion.
Leadership
Betsy Fore leads the firm as founder and managing partner. She previously co-founded Tiny Organics, becoming the first Native American woman to raise a Series A round, and created the app builder Wondermento. She also brings experience from prior roles at XFactor Ventures and LongJump Ventures.
Joining her at Velveteen is Karla Brollier, of Indigenous descent and originally from Patagonia, who heads climate-related investments. Katherine Stabler, with decades of legal and operational experience in private funds, serves as Chief Operating Officer.
Investment Strategy
Velveteen Ventures focuses on high-conviction investing in founders who are building companies with transformative potential in markets that have been historically undercapitalized. The firm’s strategy combines financial rigor with a values-driven lens, supporting companies that deliver both impact and returns. While Velveteen is not formally an impact fund, it explicitly aims to demonstrate that profit and purpose can align. The team emphasizes mentorship, community building, and direct engagement with founders.
Notable Investments
As of launch, Velveteen Ventures has not yet disclosed any public portfolio companies. However, the firm is actively deploying capital from Fund I and intends to support a diverse slate of startups in healthcare, climate tech, consumer goods, and community infrastructure.
Other
Velveteen Ventures is one of the few Native American-founded VC firms in the United States. Beyond investing, Betsy Fore operates a nonprofit that provides mentorship and resources to Native American entrepreneurs. Her goal with Velveteen is not only to generate returns but also to redefine what inclusive capital allocation looks like across the venture ecosystem. Fore is also set to publish a book on entrepreneurship and venture capital, further extending her influence in the space.
