Venture capital firm Greycroft raises over $1 billion across two funds
The "seed-to-growth" venture capital company Greycroft said today that it has closed over $1 billion in financial commitments across new funds. According to co-founder and managing partner Dana Settle, the company's two flagship vehicles, Greycroft Partners VII and Greycroft Growth IV, closed on more than $980 million in capital. This money will be used to invest in both early- and growth-stage enterprise and consumer enterprises.
"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," Settle said in a pre-written statement. "Our investment strategy remains the same, identifying businesses that are bringing new uses for next-generation technology to the market and assisting them during this crucial phase of commercialization."
Greycroft, which was co-founded in 2006 by Settle, Ian Sigalow, and Alan Patricof, manages more than $2 billion in assets and has investments in businesses like Bird, Bumble, HuffPost, Goop, The RealReal, and Venmo. With a presence in nearly 20 nations, the company focuses investments in high-growth, early-stage firms that range from $500,000 to $50 million.
Growth-stage deals may be invested in through Greycroft's growth funds, with commitments starting at $10 million and scaling up to $35 million. In the meanwhile, its venture fund makes a first cheque investment of between $500,000 and $5 million.
Greycroft previously closed two funds, Greycroft VI ($310 million) and Greycroft Growth III ($368 million), for a total capital raise of $2 billion. Since 2006, the company has raised its capital commitments from $75 million to $3 billion, and it now has agreements with more than 250 portfolio firms.
In a news statement, Sigalow noted that "we are witnessing a once in a generation industrial transformation driven by advancements in artificial intelligence and the growing demand for sustainable products." "Despite the difficult economic conditions, these secular transitions are offering new opportunities across a wide range of sectors. We have been in this situation before and are anticipating the inventions and pioneering businesspeople that will result from this time of change.
"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," Settle said in a pre-written statement. "Our investment strategy remains the same, identifying businesses that are bringing new uses for next-generation technology to the market and assisting them during this crucial phase of commercialization."
Greycroft, which was co-founded in 2006 by Settle, Ian Sigalow, and Alan Patricof, manages more than $2 billion in assets and has investments in businesses like Bird, Bumble, HuffPost, Goop, The RealReal, and Venmo. With a presence in nearly 20 nations, the company focuses investments in high-growth, early-stage firms that range from $500,000 to $50 million.
Growth-stage deals may be invested in through Greycroft's growth funds, with commitments starting at $10 million and scaling up to $35 million. In the meanwhile, its venture fund makes a first cheque investment of between $500,000 and $5 million.
Greycroft previously closed two funds, Greycroft VI ($310 million) and Greycroft Growth III ($368 million), for a total capital raise of $2 billion. Since 2006, the company has raised its capital commitments from $75 million to $3 billion, and it now has agreements with more than 250 portfolio firms.
In a news statement, Sigalow noted that "we are witnessing a once in a generation industrial transformation driven by advancements in artificial intelligence and the growing demand for sustainable products." "Despite the difficult economic conditions, these secular transitions are offering new opportunities across a wide range of sectors. We have been in this situation before and are anticipating the inventions and pioneering businesspeople that will result from this time of change.
.jpg "Aquapulse : Pioneering Global Leadership in Seafood Exports Through Market Intelligence & Post Harvest Innovation")
.jpg "10 Dimensions Design : Pioneering Technology Integration in the Construction Industry")
.jpg "Sante SPA Cuisine : Curating Global Food that Promotes Healthy Eating")
