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Laxman Pai, Opalesque Asia:

CRV announced two new funds - it has raised $1 billion for its 19th flagship venture fund (CRV XIX) for investing in early-stage startups and $500 million for its sophomore 'Select' fund (Select II) one for investing in more mature companies.

The 52-year-old firm, which operates out of Palo Alto and San Francisco, invests in early-stage companies operating in sectors including life sciences and consumer products.

CRV XIX will back software companies at their seed and Series A stages. Select II is a growth-stage fund that will back CRV's breakout companies.

However, the firms' larger fund is an unusually big one for investing in early-stage startups, where round sizes and individual investments are generally smaller. CRV, for example, typically invests between $5 million and $15 million in such rounds. At those amounts, the firm could make between 67 and 200 investments from its new fund - a large total.

"We will use CRV XIX to back software pioneers at their seed and Series A formation stages across areas of focus we're already intimately familiar with, as evidenced by the winning companies we've already partnered with early on in these spaces," the company said in a statement.

"Select II is our second growth stage fund. Select II will be dedicated to continuing to fuel and back our best breakout companies. CRV backs founders early on and we enjoy continuing to partner with them as they grow th......................

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