Long Journey Ventures has announced the launch of its new fund, Long Journey Fund IV, which has successfully raised approximately $181.8 million. This marks the firm's first major fundraising effort after five years of operating in stealth mode. The fund aims to support what the founders describe as 'magical weirdos,' a term they use to refer to unconventional thinkers and innovative entrepreneurs. Co-led by Cyan Banister, Arielle Zuckerberg, and Lee Jacobs, the fund has attracted interest from new institutional limited partners, including two public pension funds. The fundraising effort was noted for its speed, achieving its goals well above the $400 million hard cap set by the firm. This initiative reflects a growing trend in venture capital to back unique and unconventional ideas in the technology sector.