CRV has assured $ 750 million for the twentieth flagship of the risk firm of 55 years, TI announced On Friday.
The new background is narrower than The initial stage of $ 1 billion CRV closed in the fall of 2022. At that time, the firm also announced a select fund of $ 500 million in second place, a capital group to support the rounds in the late stage of the existing portfolio companies.
It is not surprising that CRV is not raising a late stage as part of its new fundraising. Last year, the firm told New York Times it I was returning $ 275 million of its $ 500 million Select Investor Fund. The firm explained that it would not raise another vehicle in the late stage because the rounds of follow -up for many or its companies would be lower their general yields.
CRV limited partners were anxious to support the narrowest fund of the company, the firm said. He raised his full fund of $ 750 million in just four weeks, with the demand for twice that amount, CRV wrote.
The last fund will be used to invest in seed and series A startups and will focus on supporting consumers and devotool companies.
CRV is known for leading the financing of Dortash seeds and the rounds of the A series for Bothury and Vercel, a cloud platform for web developers, which lasted $ 3.25 billion.
Since its foundation in 1970, CRV has supported more than 750 new companies, with 80 or they are making public.
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The company’s latest investments include ModernA startup for the review of the AI code, and Outtake, a company that uses AI for cyber security.
