growth funding
venture fund

Greycroft announces $250 million growth fund

Next Story

Greylock hires a growth advisor in residence to help goose its portfolio companies

Greycroft Partners, the venture firm co-founded by industry veteran Alan Patricof, is announcing their second growth equity fund. They will have about $250 million in capital to deploy, an increase from the $200 million in their previous late stage fund from 2.5 years ago.

This is in addition to the $200 million early stage fund that they recently raised late last year. About half of their growth fund investments will be follow-on rounds for existing portfolio companies.

Some of their later stage investments include Thrive Market, App Annie and Plated. A handful of their startups have been successfully acquired including Buddy Media, Trunk Club, Braintree and Maker Studios.

With the fund announcement also comes the promotion of Dylan Pearce, who is graduating from principal to partner. Pearce is involved with managing the day-to-day operations of the growth stage funds.

While many venture firms focus on a particular phase, Greycroft wants to be “stage agnostic,” Pearce says.  This can mean anywhere from that initial seed round to a pre-IPO opportunity.

Greycroft also takes a different approach from other venture firms when it comes to location. While they make some investments in Silicon Valley, they are headquartered in Los Angeles and New York, with a particular focus on global opportunities.

 

Greycroft was founded in 2006 by Alan Patricof,  Ian Sigalow and Dana Settle.