Haystack Ventures Closes $50 Million Oversubscribed Fifth Flagship Fund

By Amit Chowdhry ● July 12, 2019
  • In a document filing, it has been revealed that Haystack Ventures has raised an oversubscribed $50 million fund

Haystack Ventures has filed a document with the SEC disclosing that it raised $50 million for its fifth flagship venture capital fund, according to Crunchbase. This fund is oversubscribed from the initial target of $40 million as filed in a previous filing in October 2018. Fund V is two times the size of Haystack’s fourth fund, which targeted $25 million.

Investors started committing to Fund V on October 5, 2018, according to the regulatory document filed with the SEC. The filing shows Semil Shah as the general partner for the fund. Shah is also a venture partner at Lightspeed Venture Partners. Haystack’s first fund was $40 million.

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Shah started Haystack back in 2013. And before that, he worked in product marketing and distribution at Concept.io. Shah had also worked at Swell, Rexly, and Votizen. And between 1995 and 1999, he received a BA in History at the University of Michigan followed by a Master’s in Economic Development and Strategy at Harvard.

Some of the most successful portfolios at Haystack include DoorDash, Instacart, Carta, Giphy, and Wag. And Haystack’s latest investments include Drink Haus and BentoBox.

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Featured image credit: Semil Shah via LinkedIn

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