Redpoint Ventures, a San Francisco-based agency that’s a couple of quarter century outdated, has raised a $650 million tenth early-stage fund, in accordance with a regulatory submitting.
Redpoint’s new fund matches the dimensions of its prior fund, which was raised just below three years in the past. In a market the place many enterprise corporations are lowering their capital hauls, this consistency might point out the agency’s restricted companions are comparatively pleased with its efficiency.
The agency’s early-stage technique is managed by 4 managing companions: Alex Bard (pictured above), Satish Dharmaraj, Annie Kadavy, and Erica Brescia, who joined the agency in 2021 after serving as GitHub’s COO for almost three years.
The early-stage group’s current distinguished investments embrace AI coding startup Poolside, which was based by former Redpoint companion and GitHub CTO Jason Warner, a distributed SQL database developer Cockroach Labs, and procurement administration platform Levelpath.
The multistage agency additionally runs a progress technique, led by companions Logan Bartlett, Jacob Effron, Elliot Geidt, and Scott Raney. Final yr, Redpoint raised its fifth growth-stage fund at $740 million, a slight enhance from its $725 million fund closed three years prior.
Redpoint’s current exits embrace Subsequent Insurance coverage which was bought for $2.6 billion in March, meals and journey media startup Tastemade was scooped up by Marvel for $90 million, and HashiCorp’s $6.4 billion acquisition by IBM.
Redpoint didn’t reply to a request for remark.
