Venture capital firm CRV has announced the closing of its latest fund, CRV XX, with $750 million in commitments.
The new fund will be dedicated to leading seed and Series A rounds for early-stage startups, continuing the firm’s long-standing strategy of backing foundational technology companies.
The fundraising effort, which was oversubscribed in just four weeks, comes as the firm approaches its 55th anniversary this November.
CRV’s investment philosophy is built on backing visionary founders and teams with the grit to build transformative companies. And the firm cites past successes, such as DoorDash, where CRV led the first round of financing in 2013, and Mercury, for which the firm led the Series A round in 2019. These companies, along with others like Vercel, which received a Series A investment from CRV, demonstrate the firm’s ability to identify and support startups that go on to redefine their markets.
The fund will maintain its focus on a concise strategy while adapting to a rapidly evolving technology landscape. While acknowledging that AI is now a ubiquitous term, CRV views it not as a separate category, but as an integral part of nearly every sector, from consumer technology to devtools.
The firm highlighted “fusion companies” such as Outtake, a cybersecurity company it backed in 2024 that builds cyber agents for AI labs and financial institutions, as an example of this integrated approach.
CRV has a tradition of supporting both determined first-time founders and seasoned entrepreneurs. The firm’s recent investments include:
1.) Browserbase: CRV proudly co-led the Series A in 2024 for this company, founded by Paul Klein IV. Browserbase has since grown to over 1,000 customers and is valued at $300 million, just one and a half years after its launch.
2.) CodeRabbit: CRV led the Series A in July 2024 for this company, co-founded by Guritfaq Singh and Harjot Gill, a successful serial entrepreneur. CodeRabbit now has over 6,000 customers, including several Fortune 500 companies.
With the launch of CRV XX, the firm aims to continue its tradition of being a hands-on partner, providing deep, one-on-one engagement and rolling up its sleeves to help founders navigate both successes and challenges. The firm encourages ambitious founders tackling tough problems to reach out to its team.
