Greycroft Announces $1B In Commitments To Brighten Dark Venture Capital Landscape

It’s not all doom and gloom out there in the startup and venture capital world.

At least not for those with connections to Greycroft. The New York- and Los Angeles-based venture capital firm announced Tuesday that it is closing on more than $1 billion in capital commitments across new funds.

The firm, which backs startups from seed to growth, is known for its investments in a slew of successful startups including Gwyneth Paltrow’s lifestyle brand Goop, scooter startup Bird and popular payments platform Venmo. Its most recent reported investment was as co-lead with Madrona Venture Group on April 25 as part of data sharing platform Bobsled’s $17 million Series A.

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To see a more complete list of Greycroft’s investments, visit the firm’s Crunchbase investment data page. Greycroft‘s most notable exits include Bumble, Scopely and SEMrush. Of course, not all Greycroft portfolio companies have been winners. Recently, e-commerce company Boxed, which raised over $240 million in venture funding before going public via a SPAC merger 15 months ago, told investors that it is contemplating a bankruptcy filing.

Let’s talk about the money

Co-founded in 2006 by Ian Sigalow, Alan Patricof and Dana Settle, Greycroft has grown from $75 million to $3 billion in capital commitments and partnered with more than 250 portfolio companies, according to the firm.

Greycroft typically makes initial investments from $500,000 at the seed stage to up to $30 million in the growth stage, according to the firm. It is an active Series A investor and typically invests between $1 million and $10 million.

Sigalow pointed to AI and other sectors in the firm’s announcement: “We are witnessing a once-in-a-generation industrial transformation driven by advancements in artificial intelligence and the increasing need for sustainable products. These secular shifts are creating new opportunities across a wide range of sectors, despite the challenging economic conditions.”

Illustration: Dom Guzman