Greycroft

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Greycroft LP
Company typePrivate
IndustryVenture Capital
Founded2006
HeadquartersNew York, New York
Number of employees
60
Websitewww.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][4] Greycroft was founded in 2006 by Alan Patricof, Dana Settle, and Ian Sigalow.[5] The firm is headquartered in New York City and Los Angeles.[6]

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.[7][8] Patricof's transition is linked to a renewed desire for early-stage investing.[9] Patricof is known for his investments and involvement with companies such as AOL, Apple Inc., Office Depot, and New York magazine.[10]

Funds

Greycroft raised its first fund (Greycroft I) with $75 million of investor commitments in 2006,[11] Greycroft II with $131 million in 2010,[11] Greycroft III with $175 million fund in 2015,[12] Greycroft IV with $200 million in 2018,[13] Greycroft V with $250 million in 2018,[14] and Greycroft VI with $310 million in 2020.[15] In 2014, Greycroft raised its first growth fund, Greycroft Growth, with $200 million.[16]

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.[17] Greycroft raised Greycroft Growth III, a $368 million growth fund in 2020.[18][19]

The firm is investing from two funds today:[20]

  • Greycroft VI: $310 million venture fund
  • Greycroft Growth III: $368 million growth-stage fund

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.[20]

Investments

Greycroft has invested in over 300 companies located in 45 cities internationally, with the majority of these companies headquartered in the United States.[21]

The firm's notable investments include:

References

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  6. ^ Noto, Anthony (July 18, 2018). "Greycroft: 'Our most successful investments weren't in NYC or LA'". New York Business Journal. Retrieved June 20, 2020.
  7. ^ "Patricof Goes Back To Early-Stage Investing". Reuters Buyouts. March 16, 2006.
  8. ^ "Legendary media investor Alan Patricof's new Web 2.0 life". Fortune. September 11, 2007.
  9. ^ "The World According to Alan Patricof". American City Business Journals. December 4, 2007.
  10. ^ "No More Shuffleboard. New VC Firm Targets Aging Boomers". WSJ. Retrieved August 10, 2020.
  11. ^ a b "Early-Stage VC Greycroft Closes $200M Growth Fund". The Wall Street Journal. June 19, 2014.
  12. ^ Boslet, Mark (November 30, 2015). "Greycroft raises $200 mln fourth fund". PE Hub Network.
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  14. ^ Ha, Anthony (July 18, 2018). "Greycroft raises $250M for its fifth early-stage fund". TechCrunch. Retrieved October 13, 2020.
  15. ^ "TechCrunch". TechCrunch. October 7, 2020. Retrieved October 7, 2020.
  16. ^ Chernova, Yuliya (June 19, 2014). "Early-Stage VC Greycroft Closes $200M Growth Fund". The Wall Street Journal. Retrieved July 20, 2020.
  17. ^ Roof, Katie (February 9, 2017). "Greycroft Announces $250 Million Growth Fund". TechCrunch. Retrieved July 20, 2020.
  18. ^ Ellingson, Annlee (October 7, 2020). "Greycroft raises $678 million for two new funds". L.A. Biz. Retrieved October 9, 2020.
  19. ^ Clark, Kate (October 6, 2020). "Greycroft Announces $678 Million in New Funds". The Information. Retrieved October 15, 2020.
  20. ^ a b "Our Story". Greycroft Partners. Retrieved June 16, 2017.
  21. ^ "Our Companies". Greycroft Partners. Retrieved June 16, 2017.
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