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Greycroft

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Greycroft LP
Company typePrivate
IndustryVenture capital
Founded2006
HeadquartersNew York, New York, Los Angeles, California, San Francisco, California
Number of employees
60
Websitewww.greycroft.com

Greycroft LP is an American venture capital firm. It manages over $2 billion in capital with investments in companies such as Bird, Bumble, HuffPost, Goop, Scopely, The RealReal, and Venmo.[1][2][3] Greycroft was founded in 2006 by Alan Patricof, Dana Settle, and Ian Sigalow.[4] The firm is headquartered in New York City, Los Angeles, and the San Francisco Bay Area.[5]

History

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Greycroft was founded in 2006 by venture capitalist Alan Patricof.[6] He previously founded Apax Partners, one of Europe's largest private equity groups with $50 billion under management.[7][8] Patricof's transition is linked to a renewed desire for early-stage investing.[9] Patricof is known for his investments and involvement with companies such as AOL, Apple Inc., Office Depot, and New York magazine.[10]

Funds

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Greycroft raised its first fund (Greycroft I) with $75 million of investor commitments in 2006,[11] Greycroft II with $131 million in 2010,[11] Greycroft III with $175 million fund in 2015,[12] Greycroft IV with $200 million in 2018,[13] Greycroft V with $250 million in 2018,[14] and Greycroft VI with $310 million in 2020.[15] In 2014, Greycroft raised its first growth fund, Greycroft Growth, with $200 million.[16]

The company’s growth funds allow for investment in growth stage deals, with commitments starting at $10 million and scaling up to $35 million. Following the success of the firm's later stage investments, Greycroft raised Greycroft Growth II with $250 million in 2017.[17] Greycroft raised Greycroft Growth III, a $368 million growth fund in 2020.[18][19]

The firm raised over $1B in new funds in 2023, including:[20]

  • Greycroft Partners VII
  • Greycroft Growth IV

Its recent investments include Stability AI,[21] Contextual AI,[22] and Reken.[23] The venture fund invests between $100,000 and $5 million in a first check, while the growth fund invests up to $50 million in a company. These funds enable the firm to support entrepreneurs at any stage, from inception through exit.[24]

Investments

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Greycroft has invested in over 300 companies located in 45 cities internationally, with the majority of these companies headquartered in the United States.[25]

The firm's notable investments include:

References

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  1. ^ "43 NYC Venture Capital Firms You Should Know". Built in NYC. Retrieved August 8, 2020.
  2. ^ "17 Los Angeles venture capital firms you should know". Built in LA. Retrieved August 8, 2020.
  3. ^ "Top 10 venture capital firms". FinTech. Archived from the original on January 21, 2021. Retrieved August 8, 2020.
  4. ^ "An 82-Year-Old VC Makes a Splash With Young Startups". Forbes. Retrieved August 8, 2020.
  5. ^ Noto, Anthony (July 18, 2018). "Greycroft: 'Our most successful investments weren't in NYC or LA'". New York Business Journal. Retrieved June 20, 2020.
  6. ^ Rublin, Lauren R. (September 7, 2023). "A Venture Capital Pioneer Sizes Up Today's Market". Barron's. Retrieved September 5, 2024.
  7. ^ "Patricof Goes Back To Early-Stage Investing". Reuters Buyouts. March 16, 2006.[permanent dead link‍]
  8. ^ "Legendary media investor Alan Patricof's new Web 2.0 life". Fortune. September 11, 2007.
  9. ^ "The World According to Alan Patricof". American City Business Journals. December 4, 2007.
  10. ^ "No More Shuffleboard. New VC Firm Targets Aging Boomers". WSJ. Retrieved August 10, 2020.
  11. ^ a b "Early-Stage VC Greycroft Closes $200M Growth Fund". The Wall Street Journal. June 19, 2014.
  12. ^ Boslet, Mark (November 30, 2015). "Greycroft raises $200 mln fourth fund". PE Hub Network.
  13. ^ "Greycroft raises $250M for its fifth early-stage fund". TechCrunch. July 18, 2018. Retrieved April 30, 2020.
  14. ^ Ha, Anthony (July 18, 2018). "Greycroft raises $250M for its fifth early-stage fund". TechCrunch. Retrieved October 13, 2020.
  15. ^ "TechCrunch". TechCrunch. October 7, 2020. Retrieved October 7, 2020.
  16. ^ Chernova, Yuliya (June 19, 2014). "Early-Stage VC Greycroft Closes $200M Growth Fund". The Wall Street Journal. Retrieved July 20, 2020.
  17. ^ Roof, Katie (February 9, 2017). "Greycroft Announces $250 Million Growth Fund". TechCrunch. Retrieved July 20, 2020.
  18. ^ Ellingson, Annlee (October 7, 2020). "Greycroft raises $678 million for two new funds". L.A. Biz. Retrieved October 9, 2020.
  19. ^ Clark, Kate (October 6, 2020). "Greycroft Announces $678 Million in New Funds". The Information. Retrieved October 15, 2020.
  20. ^ Wiggers, Kyle (April 26, 2023). "Greycroft closes on over $1 billion across new funds". TechCrunch. Retrieved October 25, 2024.
  21. ^ Wiggers, Kyle (June 25, 2024). "Stability AI lands a lifeline from Sean Parker, Greycroft". TechCrunch. Retrieved October 25, 2024.
  22. ^ Fink, Charlie. "Contextual AI Raises $80 Million, Judge Calls Google A Monopolist, Bytedance Intros Jimeng Text-To-Video AI". Forbes. Retrieved October 25, 2024.
  23. ^ bacohido (January 31, 2024). "News alert: Reken raises $10M from Greycroft to protect against generative AI-enabled fraud". Security Boulevard. Retrieved October 25, 2024.
  24. ^ "Our Story". Greycroft Partners. Retrieved June 16, 2017.
  25. ^ "Our Companies". Greycroft Partners. Retrieved June 16, 2017.
  26. ^ "EBay's PayPal Acquires Payments Gateway Braintree For $800M In Cash". TechCrunch. September 26, 2013.
  27. ^ "Salesforce in talks to buy Buddy Media for over $800M, report says". VentureBeat. May 29, 2012.
  28. ^ "Investors continue to pour money into dental startups". TechCrunch. April 9, 2019. Retrieved April 9, 2019.
  29. ^ "Chamillionaire Presents New App in Convoz". February 12, 2018.
  30. ^ "Disney to Buy Maker Studios in Deal Worth Up to $950 Million". Time. March 24, 2014.
  31. ^ Buhr, Sarah (September 20, 2017). "Albertsons snaps up meal kit startup Plated for $200 million". TechCrunch. Retrieved April 20, 2020.
  32. ^ "Investing in the Grocery Industry's Future: A Venture Capitalist's Perspective". Winsight Grocery Business. April 6, 2020. Retrieved April 28, 2020.
  33. ^ "After raising $125M, Munchery fails to deliver". TechCrunch. January 22, 2019. Retrieved January 22, 2019.
  34. ^ "Providing supplemental educational videos for healthcare online nets Osmosis $4 million". TechCrunch. June 11, 2019. Retrieved June 11, 2019.
  35. ^ "Streem buys Selerio in effort to boost its AR teleconferencing tech". TechCrunch. May 23, 2019. Retrieved May 23, 2019.
  36. ^ "Nordstrom Will Pay $350 Million for Trunk Club". Recode. July 31, 2014.
  37. ^ Rao, Leena (July 13, 2016). "PayPal Is Okay If Millennials Don't Know It Owns Venmo". Fortune. Retrieved July 28, 2020.
  38. ^ Slade, Hollie (May 13, 2014). "'Costco Of Mobile Apps' Boxed Raises $6.5M To Take On Amazon Prime". Forbes. Retrieved July 28, 2020.
  39. ^ O'Malley, Gavin (October 29, 2019). "Scopely Raises $200M Earmarked For M&A, Game Expansion". MediaPost. Retrieved July 28, 2020.
  40. ^ Zhong, Carol (November 20, 2019). "Tencent-Backed Yeahka to Seek $300 Million in Hong Kong IPO". Bloomberg.
  41. ^ Clark, Kate (November 29, 2018). "Insurance startup Bright Health raises $200M at ~$950M valuation". TechCrunch. Retrieved November 29, 2018.
  42. ^ Chitrakorn, Kati (September 6, 2018). "How Anine Bing Is Avoiding the Nasty Gal Trap". Business Of Fashion. Retrieved July 28, 2020.
  43. ^ Loizos, Connie (January 14, 2016). "Analytics Firm App Annie Raises $63 Million in Series E Funding". TechCrunch. Retrieved July 28, 2020.
  44. ^ Roof, Katie (June 27, 2016). "Thrive Market raises $111 million for its online organic grocery store". TechCrunch. Retrieved July 28, 2020.
  45. ^ Savitz, Eric J. (June 26, 2019). "The Next Big IPO Is Trying to Be Tiffany, Amazon, and a Pawn Shop Rolled Into One". Barron's. Retrieved July 28, 2020.
  46. ^ Bright, Jake (January 21, 2020). "African fintech firm Flutterwave raises $35M, partners with Worldpay". TechCrunch. Retrieved July 28, 2020.
  47. ^ Rooney, Kate (January 28, 2019). "Fintech start-up Acorns valued at $860 million after latest funding round". CNBC. Retrieved July 28, 2020.
  48. ^ Singh, Manish (July 17, 2019). "Contract management startup Icertis becomes unicorn with $115M new round". TechCrunch. Retrieved July 28, 2020.
  49. ^ Spangler, Todd (March 2, 2020). "Social-Investing App Startup Public Raises $15 Million From Will Smith, JJ Watt, Sophia Amoruso and Others". Variety. Retrieved July 28, 2020.
  50. ^ Baer, Justin (September 29, 2019). "Now You Can Build Your Own Real-Estate Empire, $100 at a Time". The Wall Street Journal. Retrieved July 28, 2020.
  51. ^ Mullin, Benjamin (November 17, 2020). "Axios Raises $20 Million to Fund Newsroom Expansion". The Wall Street Journal. Retrieved July 28, 2020.
  52. ^ Adams, Richard (February 7, 2011). "Huffington Post sold to AOL for $315m". The Guardian. Retrieved July 28, 2020.
  53. ^ "Mapped raises $6.5M to build API for the 'digital twin of data infrastructure'". VentureBeat. June 29, 2021. Retrieved February 24, 2022.
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