20VC, a London-based venture capital firm run by Harry Stebbings, announced that it had raised a third fund at $400 million. Stebbings is also best known for running one of the most popular VC-focused podcasts. The $400 million third fund will be split between seed stage rounds ($125 million allocation) and Series A ($275 million allocation).
The $400 million fund significantly increased from 20VC’s second fund of $140 million in June 2021. Investors in this round include MIT Investment Management Company, Horsley Bridge, RIT Capital Partners, and Josh Kushner, and dozens of investors joined the latest fund. And general partners from VC firms like Accel, Khosla, NEA, and Coatue also participated in this fund.
Harry Stebbings’ The Twenty Minute VC podcast often features renowned entrepreneurs and investors like Bill Ackman, Sam Altman, Daniel Ek, Reid Hoffman, Marc Benioff, Scooter Braun, and Cathie Wood. The podcast has received over 150 million listens so far and Stebbings has conducted over 2,700 interviews. This has been a magnet for attracting founders and investors to Stebbings.
Funds run by 20VC have a unique structure. For example, the firm’s three sub-funds include 20Sales, 20Growth, and 20Product. These funds feature dozens of operators who help portfolio companies scale growth. 20Sales features an all-female group of partners who have substantial experience in sales and revenue growth.
According to TechCrunch, Stebbings is still investing from the $140 million second fund raised in 2021. And this new fund took about four weeks to raise.
Here is one of Stebbings’ latest videos (with Seven Seven Six founder and general partner / Reddit co-founder Alexis Ohanian)
