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Sierra Ventures pulls in $215m for an oversubscribed twelfth fund

Monday, July 22, 2019

Laxman Pai, Opalesque Asia:

American venture capital firm based Sierra Ventures announced that it raised $215 million for a twelfth fund.

The early-stage technology-focused VC firm said that "[the] fund was oversubscribed and the prior fund's institutional investors increased their commitment to the new fund."

"We are very appreciative of the continued support we have received in Sierra XII from our existing investors, as well as excited to add some leading Limited Partners in this fund. We are proud to have some of the best endowments, pension funds and corporations from across the world on our roster," said Sierra Ventures Managing Director Mark Fernandes.

Similar to Funds X and XI, Sierra Ventures Fund XII will be managed by Mark Fernandes, Tim Guleri, and Ben Yu, who have worked together for 17 years, and will have a focus on investing in early-stage Next Generation Enterprise and Emerging Technology companies that are transforming and disrupting industries.

The fund will continue its investment focus on Seed and Series A stage investments, as well as a few Series B investments in companies that show high potential revenue growth.

The team embraces a "patient capital" approach, understanding that it takes time to build and grow truly disruptive, lasting companies.

Interest in Fund XII was driven by the continued success of Fund X (2012) portfolio companies, with nine notable exits to date including Treasure Data (ARM) and RedLock (Palo A......................

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