- Upfront Ventures has recently filed a Form D with the SEC indicating that it is planning to raise as much as $250 million for its third growth-stage investment fund
Upfront Ventures recently filed a Form D with the SEC disclosing that it is aiming to raise as much as $250 million as part of its third growth-stage investment fund. And Upfront general partners Mark Suster and Yves Sisteron were listed on the filing.
The investment firm originally started out under the name GRP Partners in 1996 — which was led by Sisteron. And Suster joined the firm in 2007.
GRP Partners had closed its fourth flagship venture fund in mid-2013 and the company rebranded to Upfront Ventures after that.
According to Crunchbase, the name Upfront was inspired by the meetings where TV networks preview shows to advertisers and media members, known as “upfronts.”
Upfront usually invests in seed and Series A rounds. And usually, Upfront follows on subsequent rounds raised by its successful portfolio companies.
If Upfront raises the full $250 million, the Upfront Growth III, L.P. would be the largest in the venture firm’s series of funds focused on follow-on and later-stage deals. The second growth fund was $120 million and the first growth fund targeted $100 million.
However, Upfront had previously closed $400 million for its sixth flagship early-stage fund in 2017. And since being founded in 1996, Upfront raised well over $2 billion. The company also hosts the Upfront Summit tech conference.
Some of the companies that Upfront invested in include Bird, Ring, Goat, Invoca, ThredUp, and Apeel Sciences. And Upfront’s executive team includes Michael Carney (principal), Greg Bettinelli (partner), Kobie Fuller (general partner), Kara Nortman (partner), and Kevin Zhang (partner).