Tinder Co-Founder Justin Mateen Grabs $247.5 Million for a New Fund

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

Tinder Co-Founder Justin Mateen Grabs $247.5 Million for a New Fund

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

A prolific angel investor, Mateen told Business Insider earlier this year he had a preference for founders who have a "chip on their shoulder."

Mateen, who co-founded the dating app that brought the world "swipe right" and countless unwelcome sexual solicitations, 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.


The offering described in the U.S. Securities and Exchange Commission filing suggests that JAM Fund may raise yet more capital for its second fund. Under his principal place of business, the disclosure lists the Bel Air mansion that Mateen bought from "Full House" star Lori Loughlin and designer Mossimo Giannulli, after the couple became a key focal point in the college admissions scandal.

Mateen did not respond to a request for comment on his plans for the fund.

In addition to his personal deals, Mateen's firm has made 36 investments since August 2018, per CrunchBase, counting at least five startups this past summer. Recent deals include 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, per multiple reports. Mateen was fired from the dating app company that year, a Tinder spokesperson told dot.LA. After this story was published, a spokesperson for Mateen described the nature of his departure differently. "Justin resigned; he was not fired," the spokesperson said. Wolfe went on to create Bumble.

JAM Fund frequently invests in early-stage startups outside the U.S., such as Venezuela-based food delivery app Yummy and Kenya-based restaurant inventory app Kibanda TopUp.

In Los Angeles, Mateen backed creator economy startup Voices as well as shopping subscription company FabFitFun.

Correction: This story has been updated to reflect that Whitney Wolfe Herd sued Tinder, not Mateen.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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INDIEV Teams Up With Foxconn To Launch Electric SUVs

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

INDIEV Teams Up With Foxconn To Launch Electric SUVs
Photo Courtesy of IndiEV

INDIEV, a startup based in Vernon, announced this week it will partner with Taiwanese tech conglomerate Foxconn to build its first prototypes of its upcoming electric SUV, nicknamed the INDI One.

The debut makes it the seventh consumer electric vehicle company to enter Los Angeles’s crowded cohort of green carmakers.

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