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Stacy Brown-Philpot

Stacy Brown-Philpot, TaskRabbit’s former chief executive officer, secured $172 million for her new venture fund, Cherryrock Capital. The fund focuses on investing at the Series A and B stages in companies led by underinvested entrepreneurs.  Cherryrock Capital’s investors included JPMorgan Chase & Co. and Goldman Sachs Group Inc, as well as Massachusetts Mutual Life Insurance Co., LinkedIn co-founder Reid Hoffman, Ariel Investments’ Mellody Hobson, and former Meta Platforms Inc. chief operating officer Sheryl Sandberg, according to Bloomberg. The fund’s launch comes at a time when several companies are scaling back their