Symphonic Capital Launches Inaugural Fund for Overlooked Founders in Fintech and Health Care

Symphonic Capital’s Inception

Founded in 2022 by Sydney Thomas, Symphonic Capital is a venture capital (VC) firm with a mission to uplift overlooked founders in the fintech and health care sectors. Thomas, a seasoned investor with a rich background in entrepreneurship, began her journey in venture capital in 2016. Over the years, she observed a troubling trend: many VC firms spread their investments thin, banking on the idea that while most startups would fail, a few would yield substantial returns.

However, Thomas envisioned a more strategic approach. “While it is still incredibly risky to work in early stage, a way to actually de-risk your investment is to have a much more structured and focused support strategy,” she explained in an interview with AFROTECH. This philosophy aims to enhance the chances of startups successfully transitioning from pre-seed to seed funding, and ultimately to Series A.

Inaugural Fund

Taking her vision into her own hands, Thomas launched Symphonic Capital, which has successfully closed its first fund at $13.5 million. Partnering with Shruti Shah, who brings her own wealth of experience as an educator and co-founder of Move Loot Inc., the firm is well-equipped to navigate the complexities of the startup landscape. Their combined backgrounds provide a strong foundation for championing innovative founders who are often overlooked.

“We have been immersed in these communities and understand these problems,” Thomas noted. This deep understanding allows them to identify opportunities that other investors might miss, particularly in sectors that are critical to everyday life.

The firm’s limited partners (LPs) include notable names such as Bank of America, Illumen Capital, and the Mary Reynolds Babcock Foundation. Additionally, founders like Wayee Chu of REACH Capital and Laura Spiekerman of Alloy have also lent their support. This intentional selection of LPs is designed to create a diverse network of individuals who share a commitment to solving real-world problems.

“When I was looking for LPs, I was looking for folks who could offer strategic advice, support, and feedback,” Thomas shared. This collaborative spirit is essential, especially as the firm embarks on its journey as a startup fund.

Portfolio Companies

Since raising capital in 2022, Symphonic Capital has begun deploying funds into a range of promising startups. Its portfolio includes innovative companies such as Bump, a financial tool designed to simplify personal finance; Flourish Care, which provides doulas and wellness programs for pregnant women; and Remynt, a company focused on debt and credit recovery.

While the primary focus remains on fintech and health care, Thomas emphasizes that the firm is also interested in companies that are developing tangible products and generating meaningful revenue. This broader scope allows Symphonic Capital to support a diverse array of founders who are making a significant impact.

North Star

At the heart of Symphonic Capital’s mission is a commitment to closing the racial wealth gap and addressing health disparities across the United States. Thomas recognizes the enormity of this challenge, stating, “We will most likely not be successful on that in my lifetime.”

This long-term vision is why she chose the name Symphonic Capital, rather than her own name. “This is something that is a legacy of mine that I want to see continue to grow and evolve over time,” she reflected. The firm aims to create a lasting impact that transcends its founders, fostering a future where diverse entrepreneurs can thrive and contribute to a more equitable society.