Venture Capital: Craft Ventures Raises $1.12 Billion Across Two Funds

August 16, 2021 | Latest News, News, Venture Capital

The funds will focus on the firm’s core areas of expertise – SaaS and Marketplaces.

Craft Ventures, an early-stage VC firm of “founders backing founders,” closed earlier this month two funds for a combined $1.12 billion fundraising –  Craft Ventures III ($612 million) and Craft Ventures Growth I ($510 million). The new growth fund will round off the firm’s investment strategies, covering startups in both early and growth stages. (CROWDFUND INSIDER)

With the new raising, Craft’s assets under management are $2 billion.

Craft Ventures

The firm has quite a record for backing early-stage startups that went on to become unicorns. These include Addepar, Bird, Bitgo, ClickUp, Multicoin, Neuralink, Pipe, Reddit, Sourcegraph, and SpaceX.

As founders, some of Craft’s partners created Yammer, PayPal (David Sacks), Big Fish Games (Bill Lee), StubHub (Jeff Fluhr), and Earthlink and Boingo (Sky Dayton).

In fact, every member of the Craft team has either been a unicorn founder or a successful operator, the firm said in a blog.

Some of Craft’s partners were also angel investors in iconic companies such as Affirm, Airbnb, Eventbrite, Facebook, Houzz, Slack, Tesla, Trulia, Twilio, Twitter, Uber, and Warby Parker.

For its current funds, the firm maintains that its investment strategies will revolve around the SaaS and Marketplace sectors, where it has “unique expertise.”

SaaS startups are attractive for their “predictable, compounding recurring revenue” and potential to go viral with a successful product.

On the other hand, Marketplaces make good investments for their network, liquidity, and deep moats.

Expanded teams

Craft has doubled the size of its team responsible for Ventures Fund III.

Furthermore, Brian Murray, Liany Painter, Bryan Rosenblatt, and Michael Tam have joined the investment team as new partners.

Related Story:  Elon Musk’s Neuralink Raises $205M For Its Brain-Machine Interface

Images credit: Craft Ventures                                                   

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Venture Capital/ESG: Adam Neumann Co-Founded Flowcarbon Raises $70M Via VC Funding And Token Sale

Flowcarbon, co-founded by Adam Neumann, known for WeWork, is a climate technology company seeking to formalize the market for carbon offsets on the blockchain. The startup announced Tuesday its $70…
Digital Assets: The Terra (LUNA) Implosion – Sidelights
May 25, 2022     Digital Assets, Latest News, News

One hapless investor lost about 3 billion won ($2.4 million) in the LUNA and UST implosion earlier this month. A Korean social media personality going by the name of “Chancers”…
Artificial Intelligence: AI Could Bring Us Fresh Insight Into Earthquakes
May 25, 2022     Artificial Intelligence, News

Scientists have long held the view that earthquakes are impossible to predict, being random events. But the potential for damage these natural events have, including the loss of life, have…
Digital Assets: Swiss Venture Firm CV VC Launches African Blockchain Early-Stage Fund; Issues African Blockchain Report
May 24, 2022     Digital Assets, News, Venture Capital

CV VC announced Monday at Davos the launch of its African Blockchain Early-Stage Fund to bring the advantages of the blockchain and its own expertise to enable Africa to transact…