Inspired Capital closes $450M fourth fund, bringing AUM to nearly $1.4B

New York early-stage firm Inspired Capital closed its fourth fund with $450 million in commitments, lifting assets under management to nearly $1.4 billion; earlier funds were $200 million, $281 million and $330 million. It backs about 10 companies a year with $1 million to $15 million checks and counts 12 unicorns from its first two funds. The close comes as the Bay Area took about 46% of US VC fund money from 2020 to 2025.