Ex-TaskRabbit CEO Raises $172 Million to Back Diverse Founders

Stacy Brown-Philpot, the former chief executive officer of TaskRabbit, has raised $172 million from investors including JPMorgan Chase & Co. and Goldman Sachs Group Inc. for a new venture capital fund targeting underrepresented founders.

It’s the first fund for Brown-Philpot’s Cherryrock Capital, which takes its name from the “Cherry Pie” nickname that her grandmother gave her as a child. The firm has lined up an unusually high-wattage group of backers for an inaugural fund, with investors that include the Massachusetts Mutual Life Insurance Co., LinkedIn co-founder Reid Hoffman and former Meta Platforms Inc. chief operating officer Sheryl Sandberg.

The fund, which ...