Vice Ventures

Vice Ventures functions as an early-stage venture capital fund, strategically investing in companies within non-traditional industries often perceived as "vice" categories. The firm supports startups across sectors like alcohol, cannabis, psychedelics, and sex tech, challenging conventional investment norms. This approach targets overlooked market opportunities, backing businesses that transcend stigma for growth.

Catharine Dockery founded Vice Ventures in 2018, with Fund I's initial close occurring in 2019. Dockery's background includes retail M&A at Walmart and prior equity trading experience. Her insights into market dynamics and a keen eye for quality brands within underserved sectors led to her establishing a firm dedicated to these investment avenues.

Vice Ventures backs early-stage startups operating in sectors historically avoided by mainstream capital. The firm's vision is to conquer stigmas associated with these industries, demonstrating that carefully selected companies can deliver superior returns. It seeks to normalize and professionalize these emerging markets, fostering innovation and value creation.

Vice Ventures is an early-stage venture capital fund founded in 2018 and based in Brooklyn, New York, that specializes in investing in innovative startups operating in traditionally stigmatized or non-traditional sectors such as alcohol, cannabis, adult entertainment, psychedelics, sex tech, harm-reducing nicotine, and skill-based betting. Its mission is to challenge societal perceptions around these "vice" industries while leveraging their untapped market potential to generate superior financial returns. Vice Ventures supports visionary entrepreneurs at pre-seed, seed, and Series A stages, aiming to foster growth and positive change in unconventional markets often overlooked by mainstream investors[1][2][3][4].

The firm was founded by Catharine Dockery, who leads as General Partner, and has evolved to focus on early-stage investments in North America, particularly the U.S. Vice Ventures leverages a data-driven, operator-first investment philosophy, combining deep engagement with portfolio companies and a strong network to identify high-growth opportunities in sectors that face stigma but have loyal consumer bases and attractive risk/reward profiles. The fund has a track record of over 50 investments and notable exits, demonstrating its ability to nurture startups in these niche verticals[1][4].

Core Differentiators

• Unique Investment Model: Focuses exclusively on "vice" or stigmatized industries, which are often avoided by traditional VCs, allowing it to capitalize on less competitive deal flow and high-growth potential.
• Network Strength: Deep connections with operators and entrepreneurs in non-traditional sectors, enabling hands-on support and strategic guidance.
• Track Record: Over 50 investments with successful exits, showing expertise in early-stage venture capital within challenging markets.
• Operating Support: Emphasizes operator-first insights and data-driven methodologies to optimize portfolio company growth and performance[1][2].

Role in the Broader Tech Landscape

Vice Ventures rides the trend of increasing mainstream acceptance and legalization of industries like cannabis, psychedelics, and adult entertainment, alongside growing consumer demand for alternative wellness and lifestyle products. The timing is favorable as regulatory environments evolve and societal stigmas diminish, opening large market opportunities. By investing early in these sectors, Vice Ventures influences the broader ecosystem by legitimizing and accelerating innovation in areas previously marginalized, helping to reshape industry narratives and attract more capital to these spaces[1][2].

Quick Take & Future Outlook

Looking ahead, Vice Ventures is well-positioned to continue capitalizing on the convergence of social acceptance, regulatory change, and technological innovation in vice-related sectors. Trends such as legalization of psychedelics for medical use, growth in cannabis-derived products, and digital transformation in adult entertainment and betting will likely shape its investment journey. The firm’s influence may expand as it helps build category-defining companies that normalize these industries and deliver outsized returns, potentially attracting larger institutional capital and driving further ecosystem development[1][2].

In summary, Vice Ventures stands out as a pioneering VC fund that embraces the complexity and opportunity of stigmatized markets, combining a focused investment thesis with operational expertise to unlock value where others hesitate.