---
title: "NYC VC Fund Launch: Gutter Capital Closes $75M Fund III, Expands Elbow Grease Accelerator"
description: "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."
date: 2026-06-15T00:00:00.000Z
tags: ["nyc-vc-news", "fund-close", "new-york-funds", "seed-investing", "startup-funding"]
source: https://venturecapitaltracker.com/nyc-vc-fund-news-2026-06-15-gutter-75m-fund-iii
---

# 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

1. 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
2. Upstarts Media deep dive: https://www.upstartsmedia.com/p/deep-dive-gutter-elbow-grease-startups
3. VCWire: https://vcwire.tech/2026/06/16/gutter-capital-closes-fund-iii-at-75m-opens-applications-for-elbow-grease-accelerator/