NYC VC Fund Launch: Gutter Capital Closes $75M Fund III, Expands Elbow Grease Accelerator
New York-based Gutter Capital announced the $75M close of Fund III on June 15, 2026, alongside applications for the second cohort of its NYC Elbow Grease accelerator.
Gutter Capital announced the close of Fund III at $75 million on June 15, 2026, and opened applications for the second cohort of Elbow Grease, its NYC-based accelerator.
Key facts
- Firm: Gutter Capital
- Date announced: June 15, 2026
- Fund size: $75 million (Fund III)
- Prior funds: $25M (Fund I), $44M (Fund II)
- Focus: Early-stage mission-driven companies + Elbow Grease accelerator
- Founders: Dan Teran and James Gettinger (founded 2021)
Elbow Grease accelerator terms
- Cohort size: Up to 15 teams
- Investment: $300K initial check per company
- Duration: 10 weeks on-site at Gutter HQ in NYC
- Sponsors: Mercury and Orrick
- Application deadline: July 31, 2026
- Program dates: September 15 – November 19, 2026
Why this matters
Gutter is staking its entire firm strategy on the accelerator model — Fund III capital is explicitly earmarked for Elbow Grease cohorts and follow-on rounds. The firm was recognized by Business Insider as a Top 100 Seed Investor in 2023, 2024, and 2025.
Sources
- PR Newswire (June 15, 2026): https://www.prnewswire.com/news-releases/gutter-capital-announces-75m-fund-iii-opens-applications-for-elbow-grease-accelerator-302799970.html
- Upstarts Media deep dive: https://www.upstartsmedia.com/p/deep-dive-gutter-elbow-grease-startups
- VCWire: https://vcwire.tech/2026/06/16/gutter-capital-closes-fund-iii-at-75m-opens-applications-for-elbow-grease-accelerator/
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