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Larry Cheng is a Managing Partner and co-founder of Volition Capital, a leading growth equity firm. He is a highly respected investor known for his expertise in scaling disruptive technology companies.
Larry Cheng primarily invests in high-growth consumer and enterprise technology companies. His focus areas include Software-as-a-Service (SaaS), e-commerce, digital marketplaces, fintech, and healthcare IT.
Larry Cheng works as a Managing Partner at Volition Capital, a growth equity firm he co-founded. Volition Capital is headquartered in Boston, Massachusetts.
Larry Cheng is a Managing Partner at Volition Capital based in Boston, Massachusetts. In this role, he oversees $10 million to $50 million growth equity investments in lower middle-market companies across the software, healthcare IT, and fintech sectors. Before joining Volition Capital in 2018, Cheng served as a General Partner at Battery Ventures and worked as a Senior Associate at Spectrum Equity Investors. His investment portfolio includes over 20 active companies and notable past transactions such as the 2017 initial public offering of Cision and a 2022 investment in the cybersecurity unicorn Sift. Cheng holds a Bachelor of Science degree in Electrical Engineering from MIT and a Master of Business Administration from Harvard Business School. He currently focuses on scaling tech-enabled businesses while sharing his entrepreneurial frameworks through his published book, The Founder CEO Playbook.
Larry Cheng stands as a prominent figure in the growth equity landscape, serving as a Managing Partner and co-founder of Volition Capital. With a distinguished career spanning decades, Cheng has established himself as a visionary investor, consistently identifying and nurturing high-growth companies poised for significant market impact. His leadership at Volition Capital is central to the firm's mission of partnering with disruptive consumer and enterprise technology businesses.
At Volition Capital, Larry Cheng's investment philosophy centers on identifying companies with strong unit economics, capital efficiency, and a clear path to market leadership. He possesses a keen eye for innovative business models across various sectors, including Software-as-a-Service (SaaS), e-commerce, digital marketplaces, fintech, and healthcare IT. Cheng and his team provide not just capital, but also strategic guidance and operational expertise, helping founders navigate the complexities of scaling rapidly. This hands-on approach has been a hallmark of his success, fostering robust growth and value creation for portfolio companies.
Cheng's career journey showcases a deep commitment to technology and entrepreneurship. Before co-founding Volition Capital in 2010, he was a key member of Fidelity Ventures, the predecessor firm, where he honed his skills in growth equity investing. His earlier professional experience includes a tenure in management consulting at Bain & Company, providing him with a foundational understanding of business strategy and operational excellence. This diverse background equips him with a unique perspective, enabling him to evaluate opportunities from both a financial and operational standpoint.
Throughout his career, Larry Cheng has been instrumental in the success of numerous notable companies. His portfolio includes investments in industry leaders such as Chewy, the online pet supply retailer that achieved a multi-billion dollar exit; Toast, a leading restaurant management platform that went public; and Supergoop!, an innovative skincare brand. Other significant investments include Arteza, a global art supply company; Burst Oral Care, a direct-to-consumer oral hygiene brand; Securonix, a prominent cybersecurity firm; and Tracelink, a pharmaceutical supply chain solution. These investments underscore his ability to spot transformative businesses across diverse industries and support them through critical growth phases.
Larry Cheng's dedication to fostering innovation and his strategic acumen continue to drive Volition Capital's success. He remains a pivotal force in the growth equity ecosystem, committed to empowering the next generation of market-defining companies and delivering exceptional returns for investors.
