Greycroft closes with over $1 billion in new funding

greycroftThe self-described “seed to growth” venture capital firm announced today the closing of more than $1 billion in equity commitments in new funds.

The firm’s two flagship vehicles, Greycroft Partners VII and Greycroft Growth IV, closed with more than $980 million, according to co-founder and managing partner Dana Settle, cash that will go toward investing in startups and early- and growth-stage companies. consumer businesses.

“Greycroft’s bicoastal foundation in Los Angeles and New York has given us unique access and information on technological advances that are driving emerging issues and reshaping industries at the intersection of culture and business,” Settle said in a canned statement. “Our investment approach remains the same, identifying companies that are finding novel applications of next-generation technology and supporting them at the critical time to commercialization.”

Co-founded by Settle, Ian Sigalow, and Alan Patricof in 2006, Greycroft manages more than $2 billion in capital with holdings in companies such as Bird, Bumble, HuffPost, Goop, The RealReal, and Venmo. The firm targets investments of $500,000 to $50 million in early-stage and high-growth companies globally, with a presence in nearly 20 countries.

Greycroft’s growth funds allow investment in growth stage deals, with commitments starting at $10 million and increasing up to $35 million. Meanwhile, his venture fund invests between $100,000 and $5 million on a first check.

Greycroft previously closed around $700 million ($678 million) in two funds, Greycroft VI ($310 million) and Greycroft Growth III ($368 million), bringing its total capital to $2 billion. Since 2006, the firm has grown from $75 million to $3 billion in capital commitments and has partnered with more than 250 portfolio companies.

“We are witnessing a once-in-a-generation industrial transformation driven by advances in artificial intelligence and the growing need for sustainable products,” Sigalow added in a press release. “These secular changes are creating new opportunities in a wide range of sectors, despite challenging economic conditions. We have been here before and we are excited to see the innovations and pioneering entrepreneurs that we anticipate will emerge from this period of change.”