Greycroft closes over $1 billion across new funds

GreycroftDescribing itself as a “seed-to-grow” enterprise capital agency, at present introduced that it has closed greater than $1 billion in capital commitments throughout new funds.

Based on co-founder and managing accomplice Dana Settle, the agency’s two flagship autos, Greycroft Companions VII and Greycroft Progress IV, have closed greater than $980 million — money for use to spend money on each early-stage and growth-stage companies and shopper companies.

“Greycroft’s bicostal basis in Los Angeles and New York has offered unparalleled entry and insights into the technological advances which can be driving rising themes and reshaping industries,” Settle mentioned in a written assertion. “Our funding strategy stays the identical, figuring out firms that discover new functions of next-generation expertise and supporting them on the crucial second of commercialization.”

Co-founded in 2006 by Settle, Ian Sigalow and Alan Patricof, Greycroft manages greater than $2 billion in capital, with stakes in firms comparable to Chicken, Bumble, HuffPost, Goop, The RealReal and Venmo. With a presence in almost 20 nations, the agency goals to speculate from $500,000 to $50 million in early-stage and fast-growing firms worldwide.

Greycroft’s development funds enable investments in growth-stage offers, with commitments beginning at $10 million and going as much as $35 million. In the meantime, the enterprise fund invests between $100,000 and $5 million on the primary test.

Greycroft has beforehand raised roughly $700 million ($678 million) in two funds, Greycroft VI ($310 million) and Greycroft Progress III ($368 million), bringing its complete capitalization to $2 billion. Since 2006, the agency has elevated its capital commitments from $75 million to $3 billion and has partnered with greater than 250 portfolio firms.

“We’re witnessing a once-in-a-generation industrial transformation pushed by advances in synthetic intelligence and the rising want for sustainable merchandise,” Sigalow mentioned in a press launch. “These secular modifications are creating new alternatives in all kinds of sectors, regardless of difficult financial situations. We have been right here earlier than and are excited to see the improvements and groundbreaking entrepreneurs we predict will emerge from this period of change.”