Former TaskRabbit CEO Stacy Brown-Philpot launches Cherryrock Capital to back overlooked founders

As much of Silicon Valley chases mega-rounds and buzzy AI deals, Brown-Philpot is running Cherryrock Capital like a throwback to venture capital's earlier days

Published on Feb. 15, 2026

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Stacy Brown-Philpot, the former CEO of TaskRabbit, has launched a new venture capital firm called Cherryrock Capital that is focused on backing 'underinvested entrepreneurs' building software companies at the crucial growth stage. Unlike many VC firms chasing large deals and AI-focused startups, Cherryrock is taking a more measured approach, writing smaller Series A and B checks to founders that larger firms often overlook.

Why it matters

Brown-Philpot's approach at Cherryrock represents a shift away from the venture capital industry's recent focus on mega-rounds and buzzy AI deals. By targeting underserved founders, particularly those from diverse backgrounds, Cherryrock aims to provide crucial growth capital to companies that may have been overlooked by larger firms.

The details

Before launching Cherryrock, Brown-Philpot was a member of the investment committee for the SoftBank Opportunity Fund, a $100 million vehicle started in 2026 to back underserved entrepreneurs. That experience convinced her there was a persistent gap in access to capital for 'underinvested entrepreneurs.' Cherryrock is taking a concentrated approach, targeting 12 to 15 investments from its first fund, in contrast to the seed funds that make dozens of bets or massive funds that write nine-figure checks. Brown-Philpot and her team have backed just five companies so far, about a third of the way toward their goal.

  • Cherryrock launched its debut fund in February 2025.
  • Brown-Philpot left TaskRabbit and spent time figuring out her next move before launching Cherryrock a year ago.

The players

Stacy Brown-Philpot

The former CEO of TaskRabbit who has launched a new venture capital firm called Cherryrock Capital that is focused on backing 'underinvested entrepreneurs' building software companies.

Saydeah Howard

The co-founder of Cherryrock Capital who spent nine years at the venture firm IVP.

Cody Coleman

The founder of Coactive AI, a Cherryrock portfolio company that provides multimodal AI infrastructure to the media and entertainment industry.

Joseph Kitonga

The founder of Vitable Health, a Cherryrock portfolio company that provides on-demand, primary care-based health insurance to employers and hourly workers.

JPMorgan

One of the financial institutions that has backed Cherryrock Capital.

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What they’re saying

“When I left TaskRabbit, I took some time off to figure out what was next and saw this gap in the market, which was access to capital, particularly for underinvested entrepreneurs.”

— Stacy Brown-Philpot (TechCrunch)

“It doesn't change the pitch at all. When we look at the people who decided to back Cherryrock, like JPMorgan and Bank of America...these are financial institutions who expect to generate a return. Our job as investors is to do just that.”

— Stacy Brown-Philpot (TechCrunch)

“He does what he says he's going to do.”

— Stacy Brown-Philpot (TechCrunch)

What’s next

Cherryrock is actively deploying capital from its first fund, targeting Series A and B companies that have achieved product-market fit at scale.

The takeaway

In an era when many venture capital firms are chasing large deals and buzzy AI startups, Stacy Brown-Philpot's Cherryrock Capital is taking a more measured approach, providing crucial growth capital to underserved founders that larger firms often overlook. This strategy could prove advantageous as diversity reporting requirements increase in the industry.