Underscore VC Closes $58 Million Third Fund Amid Leadership Transition

Underscore VC, a Boston-based early-stage firm, has closed its third fund at $58 million amid a leadership transition. Lily Lyman, the managing partner, has shown dedication by pivoting international travel plans to meet with founders, even while pregnant and en route to a wedding. The firm’s most notable investments include Hi Marley, Hue, Cloudzero, Slang, and Kard.

Underscore’s success is attributed to its close ties to academia and a track record of success in life sciences and AI. The firm’s Core Community, a network of entrepreneurs, operators, and executives, plays a key role in advising founders. Underscore was founded with the goal of organizing founders to help founders in a self-serving community.

The leadership transition at Underscore has been smooth, despite unexpected circumstances such as the passing of co-founder John Pearce and founder Michael Skok’s battle with a brain tumor. Skok has passed the baton to Lyman, who is ready to lead the firm into the future.

The industry is at an inflection point, driven by AI, and Underscore sees this as an opportunity for growth. With a strong team and a clear vision, the firm is poised for success in the coming years. As Lyman puts it, “How lucky are we? As we wrap up this transition, we’re kind of like ‘well, let’s go.’”

Underscore’s dedication to supporting founders and its commitment to building a strong community have set it apart in the venture capital world. With a new fund in place and a talented team at the helm, Underscore is ready to take on the challenges and opportunities that lie ahead.