More recently, venture firm CRV closed on $750 million for its twentieth flagship fund. This accomplishment is a huge personal victory for the 55-year-old company. Released on Friday, the announcement stated that CRV closed the funding in only four weeks. This unprecedented investor appetite pushed demand to 2x the amount raised.
Founded in 1970, CRV has made its mark on the venture capital landscape by funding more than 750 startups. Even more astonishing, 80 of these startups have entered public markets. This achievement underscores the firm’s standout investment strategy and overall success in growing game-changing businesses. The new fund is a tiny fraction of the size of CRV’s recently announced $1 billion early-stage fund. They flushed that fund away in the fall of 2022. Whatever the strategic justification, perhaps grounded in today’s capital markets and the firm’s desired capital management strategy, this decision is troubling.
In addition to the flagship fund, CRV announced a $500 million second Select fund last year. This capital pool is only for late-stage rounds of their existing portfolio companies. Last year, CRV paid out $275 million to investors from its $500 million Select fund. This latest move underscores their commitment to increasing returns while maintaining a solid investment portfolio.
CRV has a long history of making exciting early-stage investments in promising startups. Especially standouts like CodeRabbit doing code review tools with AI, and Outtake with their work to use AI for cyber security. These investments are further validation of CRV’s focus on investing in technology enabled companies that are market leaders or on the verge of leading their markets.
Saar Gur of one of those firms, CRV, pointed to his firm’s historic dedication to supporting innovation. He emphasized their uncompromising pursuit of excellence within their portfolio. Marina Temkin, a venture capital and startups reporter for TechCrunch, noted that this new fund represents a major milestone for CRV. It’s a refreshing sign of how the firm is pivoting amidst an increasingly volatile venture environment.
Looking ahead, CRV’s strategic moves will be highlighted at the upcoming TechCrunch event scheduled to take place in San Francisco from October 27-29, 2025. The event will shine a light on the new era of venture capital. Look forward to deep dives into what’s happening with funding trends and the future of emerging technologies.