Costanoa Ventures, a Palo Alto, CA-based venture capital firm, closed its two newest funds, totalling $340M.
- Costanoa Fund IV, its $225m core, early-stage fund, and
- Opportunity Fund II, a $115m fund which invests in later rounds of Costanoa’s early-stage winners.
Led by Mark Selcow, Partner, Costanoa Ventures invests in enterprise software companies at Seed and Series A with a focus on Applied AI, SaaS, FinTech, Security, DevOps, and Data infrastructure.
These latest funds bring the firm’s total commitments to date to over $900m.
Over the last year, Costanoa Ventures has outperformed the industry average by focusing more on companies at the earliest stages, often at formation. Along with work in new emerging markets – such as Latin American and Africa — it has broadened its fintech practice to include crypto and Web3-related companies.
The firm had two nine-figure exits for Roaster and Kenna this yearm while Its recent notable fundings include:
- Highnote, which raised $54M to date to connect merchants to its virtual payments platform,
- ForUsAll, an alternative 401(K) provider, which enables companies to offer employees investments in crypto, environmentally and socially responsible funds, and other alternative assets,
- Plug Pagamentos, which announced their seed round and enables simplified payments for ecommerce companies in Brazil and Latin America,
- Coiled, based on the open source Dask project, is creating an enterprise-ready data science platform,
- Aserto, incubated at Costanoa, is a modern authorization solution enabling developers to meet enterprise users’ complex needs.
- Kevala, an AI-based workforce platform for healthcare and long-term care facilities.