Runa Capital, a Palo Alto, CA-based venture capital firm, closed a $157m third fund.
Runa Capital Fund III was oversubscribed, exceeding its original target of $135m.
The firm typically invests between $1m and $10m in early-stage companies, predominantly Series A rounds. Runa backs cloud infrastructure, open source software, AI and machine intelligence, B2B SaaS, and tech companies that aim to innovate traditional regulated markets such as finance, education, and healthcare.
With this fund, the firm plans to additionally focus on deep tech and quantum startups.
Through ongoing support offered to its portfolio companies, Runa has created a collaborative community of founders of current and previous portfolio companies, including Nginx, Brainly, Ecwid, Final and Rocketbank, who have also invested in the third fund.
Runa Capital operates globally, from its HQ in Palo Alto to its offices throughout Europe. Its newest office opened in Berlin in early 2020, given Runa Capital’s growing German portfolio.
German investments have included Berlin-based Smava and Mambu, as well as and the recently added Monedo (former Kreditech), Vehiculum, and N8N (a co-investment with Sequoia Capital). Other investments made from the third fund include Rollbar, Reelgood, Forest Admin, Uploadcare, and Oxygen.
N8N and three other startups were funded through Runa Capital’s recently established seed program that focuses on smaller investments up to $100k made through a quick process based almost exclusively on the team’s evaluation when they might not have revenue or established metrics.
From 2010 to 2019, Runa Capital launched three funds totaling $427m and invested in more than 70 companies in Europe and North America, including Nginx (acquired by F5 Networks for $670 million), MariaDB, Zopa, Brainly, drchrono, Smava, and Mambu.
In addition to fund close, Jinal Jhaveri, ex-CEO & Founder of Schoolmint, a former portfolio company of Runa Capital which was acquired by Hero K12, joined the firm as a Venture Partner. He joined Dmitry Chikhachev, Co-founder and Managing Partner, and the other people involved in Runa you can have a look at here.