Promise Phelon’s Venture Firm Closes Inaugural $26M For ‘Dangerous Founders’

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Published by Stephen Oluwadara at April 10, 2025

Growth Warrior Capital is Supporting Enterprise AI Startups

Phelon launched Growth Warrior in 2020 in Charlotte, North Carolina, to back bold and overlooked founders. The fund supports “dangerous founders”—seasoned, underestimated entrepreneurs who excel in industries often overlooked by traditional venture capital.

“My goal is to be the first VC fund of significant scale run by a woman of color,” Phelon, founder and managing partner, said in a news release. “We have the backing of VC industry legends, and their support is proof of GWC’s mission to change the traditional model. We find dangerous founders and bridge gaps to give them opportunities, introductions, and support they otherwise wouldn’t have. As a former founder and operator, I see both the founder perspective and the investor perspective, so we’re able to go beyond capital in the value we create.”

Her strategy aligns with the booming AI market, valued at $150 billion, according to Goldman Sachs. She categorizes AI investment into three layers: foundational large language models (like OpenAI and Anthropic), connectivity solutions linking data to AI systems, and application-driven startups such as ForceMetrics, which leverage these innovations to create impactful solutions.

The Charlotte-based venture firm focuses on entrepreneurs with deep industry experience in the manufacturing, mining, and recycling sectors.

Promise Phelon’s Humble Beginnings

Phelon grew up in The Colony, Texas, a small city outside of Dallas, as the daughter of a U.S. Marine and professional golfer. By age five, she abandoned her dreams of becoming a doctor after learning the word entrepreneur, largely thanks to her uncle.

“He basically said, ‘It’s a person who finds a solution to any problem,” Phelon told Forbes. “I thought, I want to be that.” She would spend hours contemplating business ideas. “Everything from the lemonade stand to learning how to make pizza and sell pizzas, I did it all.”

Phelon’s entrepreneurial spirit intensified at Southern Methodist University, where she triple-majored in chemistry, marketing and religious studies. As a student, she started a side hustle writing press releases for doctors. The business generated revenues of $600,000, according to a 2012 Forbes contributor profile.

She rose to executive status at software conglomerate BEA Systems and was part of a division that was sold to Oracle in 2008 for $8.5 billion. After earning an MBA from Pepperdine University, Phelon returned to BEA Systems to gain more corporate knowledge.

She reached CEO status in 2015 leading a social media influencer company, TapInfluence, which was sold to Nasdaq-listed IZEA Worldwide in 2018 for $7.6 million.

On Growth Warrior Capital’s Plan to Help Startups Transition From Survival to Scale

Growth Warrior Capital has already built a portfolio of 11 startups, including AI-driven companies like Capitan, which raised $104 million, and ForceMetrics, an AI platform designed to assist first responders.

Barometer CEO Tamara Zubatiy credited Phelon’s GWC with helping the company transition from survival to scale. “Promise helped reshape our strategy, gave us tools to lead, and has been instrumental to our growth,” she said. Barometer has reported 300% quarter-over-quarter growth since GWC’s investment.

The firm is writing checks of $3 million per company and working closely with founders on growth strategy and operations. Growth Warrior Capital’s approach has garnered support from notable investors, including Seth Levine and Brad Feld, co-founders of the venture firm Foundry.

Moving on, Growth Warrior Capital’s next fund will focus on AI solutions for industrial jobs where human labor is expensive.

Main Image: Promise Phelon (source Medium)