Former Tinder CMO Gathers $250m For New Fund

JAM Fund, the venture capital firm launched by former Tinder chief marketing officer Justin Mateen, has secured nearly a quarter of a billion dollars for a new fund.

Mateen is a co-founder of Tinder, and locked down his first investment for the recent fund on July 16. Since then he’s raised at least $247.5 million from 15 undisclosed limited partners, a recent regulatory filing reveals. As a prolific angel investor, Mateen told Business Insider earlier this year he had a preference for founders who have a “chip on their shoulder.”

Since August 2018, Mateen’s firm has made 36 investments, including funding for Menlo Park-based restaurant delivery services company Owner.com and Brazil-based Kovi, which rents cars to people who drive for ride apps.

The former CMO was suspended from Tinder in 2014 after co-founder Whitney Wolfe Herd filed a sexual harassment and discrimination lawsuit against the company, describing Mateen as “verbally controlling and abusive.” The suit was settled for “just over $1 million,” without admission of wrongdoing.