Solo GP Ashley Smith announces second $25M fund to back startups in AI, security and more

Ashley Smith, a solo female GP, has closed a $25 million second fund for Vermilion Cliffs Ventures to back technical founders in AI infrastructure, security, and dev tools. The fund, raised in four months with support from existing investors, will write checks between $500,000 and $1 million and aims to invest in at least 25 companies. Smith leverages her operator experience at companies like Twilio and GitHub to help founders with go-to-market strategies for selling to developers and security teams.