Greycroft Partners has closed on a new $200 million growth fund for making late-stage investments. Before now, Greycroft had focused primarily on Series A or Series B rounds, but the new fund will give it the flexibility to make investments of $5 to $10 million per round in more mature companies.
Greycroft was an early investor in a number of companies that have recently seen exits, including Maker Studios, which recently sold to Disney for more than $500 million; Buddy Media, which sold to Salesforce for $695 million in 2012; and Braintree, which sold to eBay for $800 million last September.
However, the firm wasn’t able to invest in late-stage follow-on rounds for those companies. The new growth fund should help solve that problem. According to the Wall Street Journal, the firm expects to make three to four growth stage deals a year, on top of 15-20 early-stage investments.