Cherryrock Capital, founded by ex-TaskRabbit CEO Stacy Brown-Philpot, has announced the closing of its $172 million Fund I. The fund has a diverse group of limited partners, including JPMorgan, Goldman Sachs, MassMutual, Melinda French Gates' Pivotal Ventures, Reid Hoffman, Mellody Hobson, and Sheryl Sandberg. The fund will focus on investing in companies at the Series A and B stages, with a particular emphasis on backing diverse founders. Brown-Philpot noted that there are few firms focused on leading later-staged investments for diverse founders, and Cherryrock aims to fill this gap. The fund has already made investments in two companies, co-leading the Series B of AI company Coactive AI and investing in the Series A round of health company Vitable. Brown-Philpot is a highly accomplished entrepreneur and investor, having previously worked at Alphabet and Google, and serving on the board of several companies including StockX and HP.