Cheng moves from Citi Ventures to PruVen Capital
Victoria Cheng leaves her role as a director of venture investing with Citi Ventures to join a new venture firm that is also connected with a corporation.
Victoria is now a partner with PruVen Capital. Backed by Prudential Financial, Inc., the multi-stage firm has a $300 million fund to invest in emergent technology startups in North America, Europe, Japan, Singapore and Australia. The firm is led by Ramneek Gupta, who until this summer co-led Citi Ventures, Citigroup’s venture arm.
While at Citi Ventures, Victoria invested in such companies as Plaid, DataRobot, Immuta, BlueVine, Braze, Hopper, Tealium, and TMP. She also launched and led the Citi Impact Fund, a $200 million program created in joint partnership with Citi SPRINT and GPA to invest in areas of social impact, including sustainability, infrastructure, workforce development and financial capability.
Victoria previously held roles with Core Innovation Capital, Foundation Capital, NYC Seed, HIG Capital and NimbleTV.
Prudential is the largest life insurer in the United States with $4 trillion of gross life insurance in force and more than $1.5 trillion in assets under management as of Sept.
PruVen will look to invest $50 million to $75 million over a five-year period. It has already backed Newfront Insurance, a digital first insurance brokerage, and one of Victoria’s prior portfolio companies, DataRobot, an e2e machine learning platform for enterprises.