New York and Los Angeles-based venture capital firm Greycroft closed its second growth equity fund at $250m.
Greycroft Growth II – the successor to Greycroft Growth I, a $200MM growth fund that closed in 2014 – will focus on making investments in the expansion rounds of the portfolio companies backed by the firm’s existing early stage venture funds as well as participating in new investments not previously in the portfolio.
As part of the formation of the new fund, Dylan Pearce was promoted to Partner, joining Alan Patricof, Dana Settle, Ian Sigalow, John Elton, Mark Terbeek, and Ellie Wheeler.
As in its previous growth fund, the firm will continue to partner with e.ventures, with offices in San Francisco, Berlin, Sao Paulo, Beijing, and Tokyo to ensure access to the most exciting growth equity opportunities.
To date, Greycroft Growth has invested in 14 companies including App Annie, Bettercloud, Deposit Solutions, EBTH, iCertis, JW Player, Munchery, PHG Plated, Scopely, The RealReal, Thrive Market,WideOrbit and Yeakha.
Formed in 2006, Greycroft specializes in internet and mobile companies. With the formation of this fund, the firm now manages more than $1B.