Progression Fund

Progression Fund is a Los Angeles-based venture capital firm specializing in pre-seed and seed-stage investments within the consumer technology sector. Founded by Alex Hofmann, former President of Musical.ly North America, and Stefan Heinrich, former Global Head of Marketing at TikTok, the fund brings a unique blend of operational expertise and deep industry insights to its portfolio companies. Their strategic focus is on identifying and nurturing the next generation of consumer-facing applications and platforms, leveraging the founders' firsthand experience in scaling massively popular social media products.

The firm's distinctive value proposition lies in the founders' extensive operational backgrounds. Hofmann and Heinrich were instrumental in the meteoric rise of Musical.ly and TikTok, giving them unparalleled understanding of user acquisition, engagement, and community building in the consumer space. This experience allows Progression Fund to offer more than just capital; they provide strategic guidance, product development insights, and access to a valuable network. This hands-on approach is particularly beneficial for early-stage startups navigating the complexities of consumer market trends and user behavior. The fund successfully raised an initial $20 million to deploy across promising ventures.

Progression Fund typically writes initial checks ranging from $250,000 to $750,000, although they maintain flexibility for exceptional opportunities. This range positions them perfectly to support nascent companies at their critical early stages, helping them achieve product-market fit and initial traction. Their portfolio reflects a strong commitment to innovative consumer experiences, with notable investments including early participation in companies like Poparazzi and Moment House. By backing founders with compelling visions for consumer interaction, Progression Fund aims to replicate the success its founders achieved with their previous ventures, fostering the development of impactful and scalable consumer platforms.