Bi-coastal venture firm CRV announced it has raised $600 million for its 17th fund. The firm raised near $400 million for its previous fund, which closed in 2014. The new vehicle will invest in early-stage tech, but with an additional mandate for growth investing.
The firm had initially set out last year to raise a main early-stage fund at $450 million and its first growth fund at $400 million, according to a pair of regulatory documents filed last year.
Fund XVII will focus on the enterprise, consumer and bioengineering sectors.
Source: Medium blog post