Redpoint Ventures has closed its seventh early-stage fund on $400m, raising the same total as its predecessor which closed in 2015.
It is unclear what the investment strategy of Redpoint 7 will be, but the firm’s portfolio spans the FinTech, SaaS, software, cloud infrastructure, and consumer spaces.
The firm has been very active in the FinTech space this year, having already completed three deals. Its most recent transaction was a lead investment into the $51m Series C funding round of online auto insurance app Root Insurance.
Other funding rounds backed by the company this year include the $40m Series D round of HR and payroll company Justworks and the $16m equity raise of digital security operations developer Artic Wolf.
Alongside the closing of the fund, the firm has appointed two new partners, Alex Bard and Annie Kadavy, and are focused on early-stage investing. Prior to Redpoint, Alex was the CEO of Campaign Monitor, and Annie served as head of strategic operations at Uber Freight.
In a blog post Redpoint said, “Assembling this team focused on early stage has given us the opportunity to think differently about how we operate as a firm to best serve our founders. As a nimble and focused group, we can move quickly, make high conviction non-consensus decisions, and work together as a team to support our founders in every way.”
There has been a string of firms to raise investment funds with an interest in FinTech, this month. Earlier in the week, MetaProp, a PropTech-focused venture firm held the $40mclose for its second vehicle, and Speedinvest partnered with UNIQA to launch a €50m fund.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
