Greycroft, the self-styled “seed-to-growth” enterprise capital agency, in the present day introduced the closing of over $1 billion in capital commitments across new funds.
The agency’s two flagship automobiles, Greycroft Partners VII and Greycroft Growth IV, closed on greater than $980 million, in accordance with co-founder and managing companion Dana Settle — money that’ll be put towards investing in each early- and growth-stage enterprise and shopper companies.
“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 mentioned in a canned assertion. “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.”
Co-founded by Settle, Ian Sigalow and Alan Patricof in 2006, Greycroft manages over $2 billion in capital with stakes in corporations together with Bird, Bumble, HuffPost, Goop, The RealReal and Venmo. The agency targets investments from $500,000 as much as $50 million in early-stage and high-growth corporations globally, with a presence in shut to twenty international locations.
Greycroft’s development funds enable for funding in growth-stage offers, with commitments beginning at $10 million and scaling as much as $35 million. Meanwhile, its enterprise fund invests between $100,000 and $5 million in a primary verify.
Greycroft beforehand closed round $700 million ($678 million) across two funds, Greycroft VI ($310 million) and Greycroft Growth III ($368 million), which introduced its whole capital to $2 billion. Since 2006, the agency has grown from $75 million to $3 billion in capital commitments and partnered with greater than 250 portfolio corporations.
“We are witnessing a once-in-a-generation industrial transformation driven by advancements in artificial intelligence and the increasing need for sustainable products,” Sigalow added in a press launch. “These secular shifts are creating new opportunities across a wide range of sectors, despite the challenging economic conditions. We have been here before and are excited to see the innovations and trailblazing entrepreneurs that we anticipate will emerge from this period of change.”
