|
Laxman Pai, Opalesque Asia: Austin-based venture capital firm 8VC, led by Palantir founder Joe Lonsdale, has raised $880 million in its fifth fund.
"8VC Fund V will continue our work supporting and partnering with entrepreneurs at every stage of their journey, and building companies ourselves," said a press release from the technology and life sciences investment firm.
8VC was founded in 2015 by Lonsdale, a serial entrepreneur, and co-founder of Palantir Technologies Inc., which is based in Denver and has offices in Austin. In his recent blog post, Lonsdale, who is also 8VC's general partner, stated that the firm's mission is to "fix a broken world".
He further added that 8VC is currently managing more than $6 billion in committed capital and they further plan to invest "at every stage". Furthermore, Lonsdale also said that the team at 8VC has expanded to more than 60 people.
The vehicle, Fund V, is Texas' fourth-biggest VC fund close ever and the state's third-highest-grossing VC fund of the last decade, according to PitchBook data.
Despite their increasing abundance, entrepreneurs and founders in Texas have a smaller pool of local investors than competitors in the Bay Area, Seattle, and New York.
"We founded 8VC as a group of entrepreneurs and working with founders only intensified our passion for building. Through our 8VC Build program, we bring together the best people in the world to find the businesses we want to back, but...................... To view our full article Click here
|
RSS
