We’ve raised a new $800M fund to back serious founders who love using technology as a lever to tilt the world. Though this is our twelfth fund, the strategy remains the same: from Apple to Oculus, from Hubspot to Zendesk, from Canva to Fivetran, from Afterpay to Acacia Communications, our mission has always been to find entrepreneurs who combine excellent technical boldness with a unique point of view as to what the future needs and how to build it.
It is our biggest fund in the US but we will still deploy it entirely in companies between concept and Series A for two reasons: first, it is where we think we can add the most value. We can’t do what our best founders do but many of us have been there and thus have a lot of appreciation for how to help during the earliest days of the journey. And second, it is what we all love doing.
We raised more money to more fully support our companies through their entire journey. For instance, we’ve always liked to bet on challenging tech companies and these tend to take more conviction and money over many ups and downs. Whether it is Flock Safety or Affirmed Networks, we want to ensure sufficient funding to build hard stuff and commercialize it no matter what the “climate” or “sentiment” might prefer.
The venture market has changed a lot over the last decade. It’s bigger and more aggressive than ever, but at the same time, it can seem transactional and zero-sum in a way that distracts or even harms some of the most compelling companies we think deserve to succeed. To tilt the world requires effort and courage. What serious founders need is a partner, not an option-holder waiting in the wings. We look forward to being by your side.