Andrew Chung has left Khosla Ventures to launch a new firm, 1955 Capital, where he said he plans to invest in U.S. and European tech companies that can help solve challenges in the developing world.
So far, he said, he has raised $200 million from unnamed limited partners. He declined to discuss how much money he ultimately plans to raise.
Mr. Chung said that 1955 Capital should free him from what he called the constraints of traditional venture firms, which he said shy away from technologies that he likes to pursue and are sometimes reluctant to invest in companies that don’t focus on the U.S. market first.
The firm’s success will rely most heavily on a willingness to be contrarian “and look at things that few people care about or are willing to undertake,” Mr. Chung said.