On Thursday, Vice Ventures announced it raised its first $25 million fund to back early-stage companies in highly regulated "vice" industries like alcohol, marijuana, and e-cigarettes. The fund was created by Catharine Dockery, a former Walmart executive, and has backing from Bradley Tusk and Marc Andreessen. Tusk told Business Insider that he was impressed by Dockery's "aggressive and ambitious" approach to running her own fund, and felt that his experience in navigating uncertain regulatory waters would be helpful to Vice Ventures' portfolio.