CherryRock Capital, a new venture capital firm, has successfully raised $172 million from notable limited partners (LPs) including Goldman Sachs, JPMorgan, and MassMutual. The firm focuses on investing in series A and B stages, targeting companies led by underrepresented entrepreneurs. Founder Stacy Brown-Philpot emphasized the lack of firms concentrating on these later rounds with underinvested founders. Among its LPs are prominent figures like Mellody Hobson, Reid Hoffman, and Sheryl Sandberg. This fundraise challenges the notion that support for diverse entrepreneurs would decline in light of recent legal and political challenges to DEI programs in the U.S.