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Tim Chen has quietly become of one the most sought-after solo investors
Tim Chen, solo VC at his firm Essence VC, just closed his fourth fund, a fresh $41 million, without even trying.
When StepStone pushed him to send LP documents so they could wire the money – and wanted to bring others in – he opted to get his act together and do the fund immediately. Fund IV backers wound up including names like Tomasz Tunguz (former Redpoint, now of Theory Ventures ) and Ethan Kurzweil (formerly Bessemer, now of Chemistry VC). For instance, he invested in a company called ComfyUI which was, at the time, working on a consumer visual AI product based on the open source Stable Diffusion model.
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