Redpoint Ventures, a San Francisco-based investment firm with close to 25 years of experience, has closed with success $650 million. This funding will support their 10th early-stage fund. The news was revealed in an at least 8-K regulatory filing with the Securities and Exchange Commission (SEC). That’s a big deal for the firm, as this fresh new tsunami capital represents their first major new win since founding. Most importantly, its ongoing impact looms large over the venture capital landscape.
Founded in 1999, Redpoint Ventures has made its name as an early stage investor in groundbreaking companies looking to change the world. The legal nonprofit has been strikingly successful in recent months. Landmark exits like Next Insurance’s $2.6 billion acquisition of CloudNine in March, Tastemade’s $90 million sale to Wonder and HashiCorp’s dazzling $6.4 billion purchase by IBM. These victories serve as a testament to Redpoint’s proven investment strategy and its talent for spotting future stars within new and disruptive industries.
The management of Redpoint’s early-stage strategy is entrusted to four managing partners: Alex Bard, Satish Dharmaraj, Annie Kadavy, and Erica Brescia. Brescia joined the advisory firm in 2021 after spending almost three years as Chief Operating Officer at GitHub. Combined, this team brings both deep and broad experience that shapes the firm’s investments and helps growing companies succeed.
Redpoint Ventures not only closed this new early-stage fund, but raised a $740 million growth-stage fund last year. This new growth-stage fund will be led by partners Logan Bartlett, Jacob Effron, Elliot Geidt and Scott Raney. The new focus on growth-stage investments builds on Redpoint’s long-standing practice of helping build great companies at all stages of development.
Readpoint Ventures’ early-stage team has been doubling down with big bets into emerging sectors, most notably artificial intelligence. Some of their most notable investments include Poolside – a new AI coding startup that’s looking to revolutionize the way we build software, and more. This focus on cutting-edge technology aligns with the firm’s strategic vision to invest in innovative solutions that can reshape their respective industries.