Four years ago, Max Altschuler stumbled into launching a venture capital firm. Today, he’s celebrating another milestone. His fund, GTMfund, just closed its second round at $54 million—beating its $50 million target. Talk about a happy accident!

GTMfund is part of a growing trend of “operator-led” funds. These are backed by limited partners (LPs) who’ve worked at or are currently at high-performing tech companies. Think places like AWS, OpenAI, and Snowflake. These LPs aren’t just investors—they’re marketing and sales pros who help mentor startups in the fund’s portfolio, especially in areas like sales strategies and hiring.

The first fund, launched in 2021, featured around 250 operators and a couple of institutional investors. It backed standout companies like AI composer Writer and security compliance firm Vanta, both now valued in the billions. With such a solid track record, the second fund attracted even more interest, including 300 operator LPs and six institutions like Bain Capital Ventures and Inovia Capital.

But here’s the kicker: Altschuler never set out to run a VC firm. He started his career as employee No. 8 at Udemy, later advising startups and running his own blog, Sales Hacker. After making some successful angel investments, his network kept asking for guidance. So, he sent out an email proposing a small fund for go-to-market experts. The response? Overwhelming. The first fund ended up raising $22 million instead of the planned $1 million.

Now, GTMfund isn’t just about investing. It’s built a community where LPs can chat, attend dinners, and even go on annual retreats. “It’s become a labor of love,” Altschuler says. “I’m getting the same joy out of it as our LPs—helping founders and companies grow in this niche area of GTM.”

With the new fund, GTMfund aims to back around 40 early-stage companies, writing checks ranging from $500,000 to $1.5 million. It’s a fresh approach to venture capital, blending investment with hands-on expertise—and it’s clearly working.