Emergence also was a major investor in Veeva and Bill.com.

Venture capital firm Emergence Capital announced it has raised two new funds: Emergence Capital Partners (ECP) VI and Emergence Capital Opportunity I. While ECP VI will invest its haul of $575 million in early-stage B2B tech companies, the Opportunity Fund, which raised $375 million, will primarily make follow-on investments in later-stage startups already backed by Emergence. (Emergence)

Emergence dedicates itself to early-stage enterprise technology, particularly B2B.

“Our investment strategy is focused on founders who are building groundbreaking B2B technology companies,” Emergence said in a blog. “Being a great early-stage investor requires building true conviction in what founders are creating.”

“Because all of our time is spent on B2B technology, we’re able to build stronger and earlier conviction in B2B companies than other firms,” the firm said.

Its early bets on Zoom, Veeva, and Bill.com have turned out to be among the best-returning venture investments of all time. The market cap of Emergence-backed public companies is over $312 billion.

The firm claims to be “ahead of the curve” on trends in enterprise technology. It defines Coaching Networks, Deskless Workforce, Deep Collaboration, and Industry Cloud as the most promising trends in the enterprise market.

Its obsessive focus on effectively scaling its portfolio companies allows each partner at Emergence to make on average only one new investment per year.

“This keeps the team’s board load modest and ensures each partner can work closely with founders on a wide range of activities that help accelerate their success,” the firm commented in a statement.

“One of our core values at Emergence is ‘Win Big in the Long Run’,” says Emergence General Partner Kevin Spain. “This applies as much to our investor base as it does to our day-to-day work.”

The new funds

Emergence has now amassed $2.3 billion across seven funds.

Founder and General Partner Gordon Ritter and General Partners Kevin Spain, Santi Subotovsky, Joe Floyd, and Jake Saper, each of whom joined the firm as junior investment professionals, will manage the two recent funds.

Subotovsky was named at #23 on the Forbes Midas List of the World’s Best Venture Capital Investors (2021) for his notable Zoom deal.

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