Craft Ventures
 | |
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 2017 |
| Founder | David O. Sacks, Bill Lee |
| Headquarters | San Francisco |
| Products | Venture capital |
| Total assets | $850 million |
| Website | craftventures |
Craft Ventures is an American venture capital firm based in San Francisco which makes early stage venture investments. Craft was founded in 2017 by David O. Sacks and Bill Lee.[1]
Background
[edit]Craft was founded in 2017 by David O. Sacks, formerly of Yammer and PayPal[2] and Bill Lee,[3][4] formerly of Remarq and Big Fish Games. Jeff Fluhr,[5] founder and former CEO of StubHub, joined as a general partner in 2018 and Sky Dayton, founder of EarthLink and Boingo Wireless, joined as venture partner the same year.
Craft announced its first fund of $350 million in January 2018[6] and its second fund of $500M in October 2019.[7]
Funds
[edit]Craft Ventures I ($350 million) was raised in 2017.[8][9]
Craft Ventures II ($500 million) was raised in 2019.[10]
In August 2021, Craft announced the closing of Craft Ventures III ($612 million) and Craft Ventures Growth I ($510 million), focusing on SaaS businesses and marketplace businesses.[11][12]
In November 2023, Craft announced the closing of Craft Ventures IV ($712 million) and Craft Ventures Growth II ($608 million).[13]
Notable exits
[edit]| Company | Year of investment | Investment type | Exit[14] |
|---|---|---|---|
| CloudKitchens | 2017 | Series A (Co-Lead) | Acquired by 10100 in 2019 |
| Harbor | 2017 | Seed | Acquired by Bitgo in February 2020 |
| Lumina | 2018 | Seed (Lead) | Acquired by Bitgo in April 2020 |
References
[edit]- ^ Primack, Dan (4 January 2018). "David Sacks teams with Bill Lee to raise $350 million VC fund". Axios. Retrieved 3 June 2018.
- ^ Chernova, Yuliya (29 October 2018). "David Sacks Looks to Raise Up to $500 Million for Second Craft Ventures Fund". The Wall Street Journal.
- ^ Primack, Dan (6 October 2017). "Ex-Zenefits CEO David Sacks raising VC fund". Axios. Retrieved 3 June 2018.
- ^ Jackson, Eric (6 February 2018). "Ex-PayPal executive David Sacks explains how his new company will change crypto trading". CNBC. Retrieved 3 June 2018.
- ^ "Jeff Fluhr". Bloomberg. Retrieved 1 November 2018.
- ^ Calacanis, Jason (20 July 2018). "David Sacks Craft Ventures $350m raise, big Bird bet, VR, crypto, Yammer, Zenefits, investing". This Week in Startups. Retrieved 24 August 2020.
- ^ Loizos, Connie (15 October 2019). "David Sacks's Craft Ventures just closed its second fund with $500 million". Techcrunch.com. Retrieved 24 August 2020.
- ^ "CRAFT VENTURES I, L.P. :: California (US) :: OpenCorporates". opencorporates.com. Retrieved 2021-10-30.
- ^ "Craft Ventures I | Palico". www.palico.com. Retrieved 2021-10-30.
- ^ "Craft Ventures II | Palico". www.palico.com. Retrieved 2021-10-30.
- ^ Fluhr, Jeff (2021-08-04). "Announcing Craft III: $1.1 Billion for SaaS and Marketplaces". Craft Ventures. Retrieved 2021-10-30.
- ^ "Craft Ventures Launches its $1.2 Billion Fund for SaaS and Marketplace Startups". Crowdfund Insider. 2021-08-14. Retrieved 2021-10-30.
- ^ FinSMEs (2023-11-14). "Craft Ventures Raises $1.32 Billion for Two Funds". FinSMEs. Retrieved 2024-06-05.
- ^ "Craft Ventures | Our Portfolio". www.craftventures.com. Retrieved 2021-06-11.