· investment-strategies · 1 min read
Asymmetric Capital Partners Closes $137M Fund II
Asymmetric Capital Partners closed Fund II at $137M, beating its $125M target and pushing total AUM past $240M for vertical software and healthcare IT.
Asymmetric Capital Partners closed Fund II at $137M in October 2025, beating its $125M target and bringing total AUM past $240M.
Key facts
- Firm: Asymmetric Capital Partners (founded 2021)
- Fund II: $137M (target $125M)
- Total AUM: $240M+
- Strategy: Lead $2-10M checks, ~20% ownership, Pre-seed–Series A
- Focus: Vertical software, healthcare IT, SMB consolidations
- Fund I ($105M): 29 core investments; exits include Torc, EvolutionIQ, Zorus
Why this matters
Fund II doubles down on the concentrated, operator-led model that put Fund I in the top 5% of its 2021 vintage. Managing partner Rob Biederman’s team invests across New York, Boston, and San Francisco.
Sources
- Asymmetric Fund II announcement (PR Newswire, Oct 17, 2025): https://www.prnewswire.com/news-releases/asymmetric-capital-partners-announces-137-million-fund-ii-to-back-early-stage-founders-302587024.html
- Asymmetric Capital Partners — Fund II post: https://www.acp.vc/post/announcing-asymmetric-fund-ii-137m-to-back-early-stage-founders
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