Vice Ventures invested in Proper Wild.
Vice Ventures invested in Proper Wild, a high-caffeine drink.
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Vice Ventures raises $25M to fund startups in ‘bad’ industries

  • Posted byby Dean Takahashi
  • Updated
  • 5 min

Vice Ventures has closed a $25 million second fund to finance “bad” industries that cater to human vices.

Following up on Vice Ventures’ first fund, the new firm will in non-traditional venture verticals such as cannabis, alcohol, sextech and wellness, esports, gambling, caffeine, nicotine, psychedelics, addiction recovery, and yet to be known vices, said Catharine Dockery, founding partner of Vice Ventures, in an interview with VentureBeat.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.