Greycroft Raises Over $678 Million Across Two New Funds

By Amit Chowdhry ● October 9, 2020
  • Leading venture capital firm Greycroft has announced it has raised over $678 million across two new funds

Leading venture capital firm Greycroft has announced the close of Greycroft VI (a $310 million venture fund with an emphasis on early-stage investments) and Greycroft Growth III (the firm’s newest growth-stage fund with more than $368 million of commitments). Across Greycroft’s ten investment vehicles, the venture firm has raised $2 billion in commitments and has over 200 active investments.

And as a full life cycle investor, Greycroft uses its thesis-driven approach to identify companies transforming their industries and then invests capital and expertise throughout their growth trajectory. And several of Greycroft’s Growth investments have been sourced directly from its early-stage venture funds, including Acorns, App Annie, iCertis, Medly, Plated, Scopely, Shipt, and The RealReal — which went public in 2019 at $2.4 billion.

Since being founded, Greycroft has been committed to building a diverse firm and investing in companies led by diverse management teams and boards of directors. And Greycroft’s team spans four generations and is 55% female, including three partners and one-third of its investment team. Plus a majority of Greycroft’s active core investments have board directors who are from historically underrepresented groups in venture capital.

Over the past 14 years, Greycroft has grown from $75 million to $2 billion in capital raised. And the firm currently has over 60 active portfolio companies with $100 million-plus valuations, including nine “unicorns” each valued at more than a billion dollars.

Greycroft targets investments from $500,000 up to $50 million in early-stage and high-growth companies and with a team of over 40 professionals based in New York and Los Angeles, Greycroft invests in companies across the globe. The firm also has active investments in 23 states and 15 countries, including Nigeria-based Flutterwave and Yeahka, a mobile payment and SMB lending provider in China that went public in June 2020.

KEY QUOTES:

“Greycroft partners with entrepreneurs along their journey, providing capital and expertise to support their vision from seed funding to exit. We build long-term relationships with entrepreneurs and have invested more in the past year in a dedicated platform team of C-level operators to support them as they grow.”

— Ian Sigalow, co-founder of Greycroft

“The best venture capital firms are aligned with founders, and our founders care deeply about diversity, both within their companies and within their cap tables. We know from experience that diverse teams bring significant competitive advantage and should be part of every company’s strategy.”

— Dana Settle, co-founder of Greycroft