Upstart Co-Lab Pivots to Consultancy After Fund Closes
The firm has fully deployed its $15 million creative economy fund and is now shifting focus toward advisory services.
Updated on Oct. 29, 2026 in Startups
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Upstart Co-Lab has fully invested its $15 million Inclusive Creative Economy Strategy fund after two years of operations. The organization is now transitioning its primary business focus to a consultancy model to help investors manage creative economy strategies.
Why it matters
The firm pivoted because it estimates that its pipeline of investment opportunities will require $2 billion over the next two years. By shifting to a consultancy model, Upstart aims to better address this massive funding gap in the creative sector.
The firm deployed its $15 million capital across nearly a dozen businesses and funds backed by 14 investors. Its current pipeline includes approximately 350 potential investment opportunities.
The players
Upstart Co-Lab
An investment firm that focuses on deploying capital into the creative economy.
Prebys Foundation
A philanthropic organization that recently acquired a major office tower in San Diego to create a business and arts hub.
The details
Upstart has previously backed companies including Washington, DC-based Procure Impact, San Francisco-based Bindery Books, and New York-based True Beauty Ventures. In San Diego, the firm partnered with the Prebys Foundation to conduct a landscape analysis of local creative businesses.
Timeline
The Prebys Foundation acquired the Wells Fargo Plaza in 2025.
Upstart backed Bindery Books in April 2026.
The $15 million Inclusive Creative Economy Strategy fund finished deploying capital in October 2026.
Market Landscape
This move reflects the growing trend of firms shifting from direct capital deployment to specialized impact-investment consultancy models to scale influence. Upstart Co-Lab is positioning itself to help outside investors navigate the $2 billion gap identified within the creative economy.
Local creative businesses may see changes in how they access capital as firms move from direct investments to strategic advisory services. Investors and founders should monitor how these new consultancy models influence the broader availability of funding in the creative sector.
The takeaway
Firms are increasingly moving away from closed-end fund models toward consultancy to manage larger funding pipelines. Entrepreneurs should note that this transition often signals a pivot toward high-level strategy rather than direct equity injection.
Further reading
For more on the local innovation ecosystem, see San Diego Startups.
Source note: This article includes information reported by ImpactAlpha.
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