New York City-based venture capital firm FirstMark Capital has closed two funds, amounting to $480m.
The sum will be divided between:
– FirstMark IV, a $275MM fund focused on early stage investments; and
– FirstMark OF II, a $205MM fund focused on supporting companies as they scale.
Led by Rick Heitzmann, Amish Jani, and Matt Turck, FirstMark Capital invests in tech companies that are creating new markets with innovative technology solutions or fundamentally changing existing markets by applying a fresh approach and new business model.
The firm has also built a platform that connects backed entrepreneurs with talent, customers, and expertise, running hundreds of public and private events involving thousands of people every month, and leverages proprietary software to track how they impact its portfolio and measure its effectiveness.
With more than $2 billion in capital commitments, FirstMark has backed some iconic companies such as Riot Games (Acquired by Tencent Holdings), Duck Creek Technologies (Acquired by Accenture), Netgear; Boomi (Acquired by Dell) First Advantage (Acquired by First American Corporation) StubHub (Acquired by eBay), Netegrity (Acquired by CA) Flarion (Acquired by Qualcomm), OutlookSoft (Acquired by SAP), Vallent (Acquired by IBM), and Navic Networks (Acquired by Microsoft), and SecondMarket (Acquired by Nasdaq). Current investments include Knewton, Pinterest, OpenGamma, Shopify and Lumos Labs.