Formation 8, a Palo Alto and San Francisco, CA-based technology investment firm, closed its second fund, at $500m.
Fund II will continue to back entrepreneurs who are building industry-transforming companies by leveraging Formation 8’s networks to build bridges between Asia and the U.S. The first investment is YelloMobile, a Korean mobile media platform.
Founded in 2011, Formation 8 is a venture/early growth capital investment fund focused on backing information technology and diversified technology businesses. The firm has invested in Wish, Taxon, Radius, RelateIQ (acquired by Salesforce.com) and Oculus (acquired by Facebook), among others.
Formation 8, which also has offices in Seoul, Singapore, Shanghai and Beijing, recently added Shirish Sathaye (as General Partner) and Pierre Lamond (as special advisor) to its team.