Greycroft

Last updated

Greycroft LP
Company type Private
Industry Venture Capital
Founded2006
Headquarters New York, New York
Number of employees
60
Website www.greycroft.com

Greycroft is an American venture capital firm. It manages over $2 billion in capital with investments in companies such as Bird, Bumble, HuffPost, Goop, Scopely, The RealReal, and Venmo. [1] [2] [3] Greycroft was founded in 2006 by Alan Patricof, Dana Settle, and Ian Sigalow. [4] The firm is headquartered in New York City and Los Angeles. [5]

Contents

History

Greycroft was founded in 2006 by venture capital pioneer Alan Patricof. He previously founded Apax Partners, one of Europe's largest private equity groups with $50 billion under management. [6] [7] Patricof's transition is linked to a renewed desire for early-stage investing. [8] Patricof is known for his investments and involvement with companies such as AOL, Apple Inc., Office Depot, and New York magazine. [9]

Funds

Greycroft raised its first fund (Greycroft I) with $75 million of investor commitments in 2006, [10] Greycroft II with $131 million in 2010, [10] Greycroft III with $175 million fund in 2015, [11] Greycroft IV with $200 million in 2018, [12] Greycroft V with $250 million in 2018, [13] and Greycroft VI with $310 million in 2020. [14] In 2014, Greycroft raised its first growth fund, Greycroft Growth, with $200 million. [15]

The company’s growth funds allow for investment in growth stage deals, with commitments starting at $10 million and scaling up to $35 million. Following the success of the firm's later stage investments, Greycroft raised Greycroft Growth II with $250 million in 2017. [16] Greycroft raised Greycroft Growth III, a $368 million growth fund in 2020. [17] [18]

The firm is investing from two funds today: [19]

The venture fund (Greycroft VI) invests between $100,000 and $5 million in a first check, while the growth fund invests up to $50 million in a company. These two funds enable the firm to support entrepreneurs at any stage, from inception through exit. [19]

Investments

Greycroft has invested in over 300 companies located in 45 cities internationally, with the majority of these companies headquartered in the United States. [20]

The firm's notable investments include:

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References

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  5. ↑ Noto, Anthony (July 18, 2018). "Greycroft: 'Our most successful investments weren't in NYC or LA'". New York Business Journal. Retrieved June 20, 2020.
  6. ↑ "Patricof Goes Back To Early-Stage Investing". Reuters Buyouts. March 16, 2006.
  7. ↑ "Legendary media investor Alan Patricof's new Web 2.0 life". Fortune. September 11, 2007.
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  9. ↑ "No More Shuffleboard. New VC Firm Targets Aging Boomers". WSJ. Retrieved August 10, 2020.
  10. 1 2 "Early-Stage VC Greycroft Closes $200M Growth Fund". The Wall Street Journal. June 19, 2014.
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  19. 1 2 "Our Story". Greycroft Partners. Retrieved June 16, 2017.
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