Morrison & Foerster LLP advised Base10 Partners in the closing of its $137 million debut venture fund which, according to the media, is the largest debut to date for a venture capital firm led by a black managing director. The fund seeks to disrupt longstanding industries by investing in early-stage startups that are bringing automation to traditional sectors of the economy.
Base10 is led by Adeyemi Ajao and TJ Nahigian. Founded in 2017 in San Francisco, Base10 has made a number of investments so far, investing in companies tackling transportation and others seeking to overhaul human resources and hiring. The firm’s primary goal is to make new technology available to a broader range of customers.
The MoFo team that advised Base10 Partners was led by partners Paul ‘Chip’ L. Lion III and Stephanie C. Thomas.