Venture capital firm CRV has raised $750 million for investments

CRV raised $750 million for its 20th venture fund, reducing the size after returning capital to investors

Venture firm CRV announced the raising of $750 million for its 20th flagship fund. The firm, founded 55 years ago, closed the round in four weeks, noting strong interest from investors—demand exceeded the offered amount by two times.

The new fund is smaller than the previous one: in 2022, CRV closed an early-stage fund of $1 billion and an additional Select fund of $500 million, intended for late-stage investments in existing portfolio companies.

The raised funds will be directed toward supporting early-stage startups—seed and Series A. CRV intends to focus on companies operating in the fields of consumer technology and developer tools.

Since its inception in 1970, CRV has invested in more than 750 startups, 80 of which subsequently went public. Among the most notable investments are participation in the seed round of DoorDash and Series A rounds of Mercury and Vercel. The latter is considered a cloud platform for web developers and was valued at $3.25 billion.

Recent CRV investments include CodeRabbit—a startup using AI for code review—and Outtake, which applies artificial intelligence to cybersecurity tasks.

Source: TechCrunch