BlueRun Ventures, a Menlo Park, CA-based early-stage venture capital firm, closed their sixth fund, at $130m.
BRV VI will make early-stage investments, both seed and Series A rounds focused on mobile software and services, financial technology, and digital health. It is the latest US-focused fund with the mandate to invest in global teams with a go-to-market strategy in the US.
Broadly, the firm’s investment thesis is “to look for opportunities where data and real time computing can disrupt incumbents and create new category winners.”
Launched in 1998 and led by General Partners John Malloy and Jonathan Ebinger, who were just joined by newly promoted GP Cheryl Cheng, BlueRun Ventures has focused on investing in technologies at the edge of the network (primarily mobile) and in markets ripe for disruption. Its platform consists of multiple funds managed by dedicated teams based in U.S., China, and Korea.
It has invested in over 160 companies, with select exits from PayPal (acquired by eBay), Waze (acquired by Google), Topsy (acquired by Apple), Coupa (NASDAQ: COUP) and more.
Cheng will have a focus on digital health, consumer mobile, and application layer enterprise software.