FirstMark Capital Reveals New Funds With $650 Million In Capital

By Amit Chowdhry ● June 19, 2020
  • NYC-based venture capital firm FirstMark Capital recently revealed that it has closed two new funds with $650 million in capital.

NYC-based venture capital firm FirstMark Capital recently revealed that it has closed two new funds with $650 million in capital. The FirstMark V fund is a $380 million early-stage vehicle focused on companies at the early-stage for seed and Series A investments. And FirstMark Opportunity III is a $270 million fund focused on follow-on investment for existing investments and growth-stage investments. Including these funds, FirstMark now has total assets under management of $2.2 billion.

FirstMark partners Rick Heitzmann, Amish Jani, Matt Turck, Beth Ferreira and Adam Nelson will be overseeing the funds. Some of FirstMark’s investments include Pinterest, Shopify, Riot Games, Airbnb, DraftKings, Invision, Discord, Upwork, Justworks, Pendo, Frame.io, ActionIQ, Lumosity, Kinsa, Parsley Health, Ada, Hyperscience, Orchard, and StubHub.

“We provide founders with exceptional operational support through the FirstMark Platform. We have made deep investments in technology and infrastructure to scale the FirstMark network and we are just getting started,” said the firm in a statement. “We are passionate believers in the NYC and broader East Coast ecosystem (Boston, Toronto, Ottawa, Philadelphia, Columbus, DC and beyond). While we invest across the US and Canada, and increasingly Europe, the significant majority of our investments are close to home. This ecosystem has grown by leaps and bounds in the last decade, and the more visible outcomes are just the tip of the iceberg to the deep well of companies being built underneath.”