糖心视频

Early-stage venture capital firm has closed a $600 million new fund, which it completely raised during the COVID-19 pandemic.

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The new fund, CRV XVIII, is the same size as its previous fund although it was oversubscribed, according to a t from CRV. The firm decided to cap the fund at $600 million because it believed that was the right size for CRV鈥檚 investing team in the current climate.

鈥淲e believe it is essential to continue demonstrating to our entrepreneurs that we are disciplined investors鈥攖he same way we rely on them to be great stewards of capital,鈥� the post read. 鈥淭he venture world is swimming in excess capital. We never want to be the firm that thinks of 鈥榩utting money to work.鈥� We are helping entrepreneurs build their companies.鈥�

While the world has been turned upside down by the COVID-19 pandemic and most in-person interactions have been on pause for several months, that didn鈥檛 have a negative effect on CRV鈥檚 fundraising abilities with its limited partners. According to CRV, the fund was raised over 19 days of virtual meetings during the pandemic.

The company focuses mostly on early-stage software investing, but it also has a consumer practice that has backed companies like and . The firm also has a bioengineering investing sector.

The has most recently invested in companies including , , Abacus Insights, and ,according to Crunchbase. Some of its most notable exits are and IPOs, and acquisitions of and .

Illustration: Li-Anne Dias