8VC, a San Francisco, CA-based venture capital firm, closed its second early-stage fund, at $640m.
Founded in 2015 by serial entrepreneur Joe Lonsdale, Alex Kolicich, Jake Medwell, and Drew Oetting, 8VC seeks to enable industry transformation with platforms that will replace old technology infrastructure behind many sectors such as finance, consumer, government, education, energy, smart enterprise and business processes, promoting innovation and global prosperity.
The fund will reportedly keep an eye on logistics & transportantion and biotech.
The firm, which has backed approx. 40 companies, also provides an immersive 3-month internship program that places undergraduate students into the world’s most innovative startups, a design accelerator, and The Whitespace Design Fellowship, a selective program connecting product designers with tech startups in Silicon Valley.
8VC also leverages data science as a tool to understand and predict future events and make decisions.