Greycroft, the New York and L.A.-based venture firm founded in 2006 by investors Alan Patricof, Dana Settle, and Ian Sigalow, has closed on two new funds totaling $678 million in capital commitments. One fund, it sixth flagship early stage fund, closed with $310 million dollars; the company also collected $368 million in commitments for a third growth-stage fund that it will use to support breakout startups from its early-stage portfolio.
The venture fund invests between $500,000 and $10 million in a first check, and Greycoft will invest up to $15 million in a portfolio company over multiple rounds. Checks from its growth fund begin at $10 million and the firm says it will invest up to $50 million in any one company.
Greycroft now counts seven partners altogether across its two offices, including Settle and Sigalow.
Patricof, who early in his career founded the predecessor to Apax Partners, has since launched another new firm called Primetime Partners that announced a $32 million fund in summer that is investing in platforms and products for aging Americans.
The firm invests in both consumer and enterprise startups, with a heavier emphasis on consumer. Among the brands in its portfolio are Gwyneth Paltrow’s Goop, The RealReal (which went public last year), and the dating site Bumble, which is reportedly gearing up for an IPO at an expected valuation of between $6 billion to $8 billion, as reported by Bloomberg.
The firm also recently co-led a $5.5 million Series A round for Sisu Cosmetics, a nearly two-year-old, Ireland-based chain of cosmetic clinics that’s expanding into the U.S.
Across its now ten investment vehicles, the firm has raised $2 billion altogether and has over 200 active investments. Those investments are located in 23 states and 15 countries, including the Nigeria-based payment service Flutterwave, which closed on $35 million in Series B funding earlier this year, and Yeahka, a mobile payment and SMB lending provider in China that went public in June.
Greycroft’s most recent early-stage fund had closed with $250 million in 2018; its second growth-stage fund closed with $250 million in 2017.
