Los Angeles-based venture capital firm CrossCut Ventures raised $75m for its third fund.
CrossCut 3 focuses on being the first institutional capital into scalable business ideas and entrepreneurs in the areas of eCommerce, AdTech, Mobile, SaaS, Content, Marketplaces or Gaming. The fund has already invested in 9 startups (MobCrush, LittleLabs, HelloTech, ConversionLogic, Starmaker Interactive, Vulcun, CandyClub, OngoWorks and Tribe).
LPs include foundations, endowments and fund-of-funds.
Led by Clinton Foy, Rick Smith, Brett Brewer and Brian Garrett, the firm had previously raised a $5M fund in 2008 (18 investments) and a $16M fund in 2012 (19 investments).
Read Brian Garrett’s post on Medium here