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Laxman Pai, Opalesque Asia: Greycroft, the self-styled "seed-to-growth" venture capital firm, has raised about $1 billion to pursue new investments.
The New York- and Los Angeles-based venture capital firm said in a media release that the two flagship vehicles, Greycroft Partners VII and Greycroft Growth IV, closed on over $980 million, enabling the firm to continue to invest in early and growth-stage enterprise and consumer businesses.
The latest fundraise brings the total capital raised to $3 billion since Greycroft's inception, said the firm that made an early bet on investing beyond as well as in Silicon Valley.
"Greycroft's bicoastal foundation in Los Angeles and New York has given us unique access and insights to the technological advancements that drive emerging themes and reshape industries at the intersection of culture and business," said Dana Settle, Co-Founder, and Managing Partner at Greycroft.
"Our investment approach remains the same, identifying companies that are finding novel applications of next-generation technology and supporting them at the critical moment of commercialization," Dana added.
According to the release, the capital commitments represent a significant increase from the firm's previous venture and growth funds and demonstrate continued support from limited partners of Greycroft's model of investing in startups across the entire venture lifecycle from seed to exit.
"We are witnessing a once-in-a-generation industrial ...................... To view our full article Click here
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