- Boldstart Ventures announced it closed two new funds with $157 million in capital commitments
New York-based Boldstart Ventures has closed two new funds with $157 million in capital commitments, according to TechCrunch. Boldstart IV is a $112 million seed and early-stage vehicle and Boldstart Opportunity I is a $45 million fund to fund high-performing startups.
Some of the executives at the firm that will be overseeing these funds include co-founder Ed Sim, co-founder Eliot Durbin, partner Jeffrey Leventhal, principal Shomik Ghosh, investor Max Heald, and office head Charlotte Chapanoff.
“In the past six months, a number of our companies have scaled and raised over $250 million of follow-on financing from leading investors like Accel, Andreessen Horowitz, Battery, Bessemer, Lightspeed, Redpoint, Sequoia, and Tiger Global,” wrote Sim in a blog post. “There is no better feeling than watching founders go from “day one” to market leader with us by their side. We’ve helped founders ‘step into the Road’ and invent new enterprise categories like developer security (Snyk), data privacy (BigID), professional paid email (Superhuman), security ratings (Security Scorecard), customer-first support (Kustomer), and process discovery (FortressIQ). And we have still more entrepreneurs whose startups are on the cusp of making their mark.”
Sim said that Boldstart will not change in terms of how it works with founders. And the only difference is that the firm will have more flexibility in initial and follow-on check size. The firm will still exclusively focus on enterprise, infrastructure, and SaaS with a bias towards product-led growth models. Boldstart will still over-index on long-term relationships and goals. Plus Boldstart will lead or co-lead the first round of investments at formation and pre-product at a range of $250,000 to $2 million with the ability to invest up to $10 million in the life of a company.
Boldstart also specializes in helping craft initial cap tables with a network of enterprise founders and executives to increase the odds of success. And Boldstart will introduce Fortune 500 CIOs/CTOs during the diligence process for feedback.