Watershed Ventures is a New York venture investor backing early and emerging growth companies across healthy living, productivity and purpose, and sustainable systems. Its healthcare and digital health investments include Penguin Ai’s healthcare administrative AI, mental healthcare businesses Headway and firsthand, and Maven Clinic. Its published representative portfolio also includes Tabs, Baselane, Glacier, Rivian, Warp and Yuvo. Its legal investment adviser is Watershed Collective LLC, an SEC exempt reporting adviser under CRD327754. Imraan Ahmed leads the adviser; current regulatory records also identify Samir Malik as a manager of several special-purpose vehicles. Other published partner, investor and student affiliations are qualified by source period because the public site does not provide a current comprehensive staff directory. Upsher Management’s own portfolio identifies Watershed as a2021-vintage healthcare-specialist venture fund and links directly to watershed.vc; the broader family office’s team and investments are not automatically attributed to Watershed. FundI disclosed USD24,222,500 of securities sold in November2024 within an indefinite offering, distinct from its later gross asset value and from a verified final close. The current adviser filing lists FundI and thirteen additional legal investment vehicles. This firm is distinct from climate software Watershed, Watershed Informatics, Bristol arts entities, restaurant operators and unrelated real-estate investors.
Founded
2021
Type
Venture capital
Funds14
WATERSHED FUND I, LP$24M
Delaware2021 legal venture fund managed by Watershed Collective LLC, GPWatershedGPILLC. November27,2024 amendment reports USD24,222,500 sold to86investors, with an indefinite offering and indefinite remaining amount. This is disclosed capital sold to date, not a claimed final close. First saleSeptember22,2021. CurrentMarch2026ADVgrossassetvalueUSD42M is excluded from money raised.
AV RH SPV, A SERIES OF ASSURE LABS 2019, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-8586545178. The disclosed gross asset value USD219,482 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED BLOOM SPV, A SERIES OF ASSURE LABS 2020, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-6471354908. The disclosed gross asset value USD108,000 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED KINTSUGI SPV, A SERIES OF ASSURE LABS 2021, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-2192590236. The disclosed gross asset value USD310,000 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED MOOD SPV, A SERIES OF ASSURE LABS 2020, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-9623757636. The disclosed gross asset value USD175,500 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED REDESIGN SPV, A SERIES OF ASSURE LABS 2020, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-2947236388. The disclosed gross asset value USD189,540 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED SKYLIGHT SPV, A SERIES OF ASSURE LABS 2020, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-5284573785. The disclosed gross asset value USD163,000 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED SPV I, A SERIES OF WATERSHED SPVS LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-6787831917. The disclosed gross asset value USD1,112,958 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED SPV XI, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-3511776373. The disclosed gross asset value USD1,564,207 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED SPV XII, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-8533799469. The disclosed gross asset value USD199,500 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED SPV XIII, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-2052840878. The disclosed gross asset value USD1,467,641 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED SPV XIV, A SERIES OF WATERSHED SPVS LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-3067303761. The disclosed gross asset value USD800,000 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED SPV XV, A SERIES OF WATERSHED SPVS LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-1510338550. The disclosed gross asset value USD4,102,565 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
WATERSHED THRASIO SPV, LLC——
Exact legal vehicle reported in the March31,2026 adviser filing, privatefundID805-3286187722. The disclosed gross asset value USD20,000 is valuation, not documented sold capital or a final close. Actual cash fundraising amount and full closing date remain unverified. SPVname is not proof of a specific company transaction, portfolio allocation or current employee appointment.
Team
Operations and support
Danish MunirCo-founder; Investment Committee and Venture Partner (published 2023; current committee status unverified)
Danish MunirCo-founder; Investment Committee and Venture Partner (published 2023; current committee status unverified)
Imraan AhmedManaging Partner; legal manager
Momo BiPartner (public event profile; later operational status unverified)
Mubarak AlliyuSummer Associate (published 2024; current status unverified)
Rishi KayathiSummer investment-team affiliation (announced 2026; exact seniority unknown)
Samir MalikVenture Partner; current named SPV manager
Zain KhannaInvestment-team intern/fellow (published 2025; current status unverified)
Penguin Ai$25M · 2025-09-11
Horizon Mutual Holdings
Matt Kozlov
Overwater Ventures
UPMC Enterprises
Tabs
Maven Clinic
Headway