NOEMIS Ventures is an early-stage venture fund based in New York. The firm was founded by Simeon Iheagwam, a first-time manager who took an unique path to venture. When he decided to enter the industry after spending more than 10 years in finance at JP Morgan and Wells Fargo, many people told him the best way was to either join an existing firm as an associate or work at a startup first. Instead, Simeon took his life savings, rolled it into a fund structure, and began investing in a group of 10 companies to build his track record. His initial investments set the groundwork for Simeon to launch NOEMIS Ventures.
NOEMIS looks to invest in disruptive technologies that are changing the world—including fintech, AI and ML, and marketplaces. Given Simeon’s background in investment banking and finance in general, fintech has been a particular focus for the fund, especially as COVID-19 has tested the strength of old-guard financial institutions while at the same time exposing new pockets of innovation. The firm’s focus is pre-seed and seed-stage U.S. startups, with the product in market demonstrating customer demand.
Why we invested
In a world where a lot of managers come from impressive backgrounds, Simeon’s story stands out as a lesson in relentlessness and unconventionality, two traits we always look for here at Carta. His conviction (he calls it his “Brooklyn hustle”) is a remarkable example of betting on yourself and finding a way to make that bet successful. It’s the kind of conviction a lot of founders need as they build their businesses, which is why Simeon’s story resonates with founders; that connection has allowed him to get into competitive deals. We were also impressed with his knowledge of fintech and marketplaces, and excited by his desire to fund the next generation of fintech winners. We can’t wait to see what’s next for Simeon and NOEMIS.