Redpoint Ventures, a San Francisco-based agency that’s a couple of quarter century previous, has raised a $650 million tenth early-stage fund, in keeping with a regulatory filing.
Redpoint’s new fund matches the dimensions of its prior fund, which was raised slightly below three years ago. In a market the place many enterprise corporations are decreasing their capital hauls, this consistency might point out the agency’s restricted companions are comparatively pleased with its efficiency.
The agency’s early-stage technique is managed by 4 managing companions: Alex Bard (pictured above), Satish Dharmaraj, Annie Kadavy, and Erica Brescia, who joined the agency in 2021 after serving as GitHub’s COO for almost three years.
The early-stage group’s current outstanding investments embrace AI coding startup Poolside, which was based by former Redpoint associate and GitHub CTO Jason Warner, a distributed SQL database developer Cockroach Labs, and procurement administration platform Levelpath.
The multistage agency additionally runs a progress technique, led by companions Logan Bartlett, Jacob Effron, Elliot Geidt, and Scott Raney. Final 12 months, Redpoint raised its fifth growth-stage fund at $740 million, a slight enhance from its $725 million fund closed three years prior.
Redpoint’s current exits embrace Next Insurance, which was bought for $2.6 billion in March; meals and journey media startup Tastemade, which was scooped up by Surprise for $90 million; and IBM, which acquired HashiCorp for $6.4 billion.
Redpoint didn’t reply to a request for remark.