Foundation Capital wraps up ninth fund with $350 mln


L-R: Moldow, Vassallo and Garg.

Foundation Capital, a late-stage investor in Uber and a backer of the unicorn Cohesity, announced it has raised $350 million for its ninth fund. The vehicle is slightly larger than Fund VIII, which closed in 2015 at $325 million. Fund IX is led by General Partners Ashu Garg, Charles Moldow and Steve Vassallo. Not a part of the new fund, but still listed as a GP on the firm’s website, is Paul Holland, who was a part of the previous fund and is continuing to manage out his investments. Other notable exits of Foundation Capital are Sunrun, LendingClub, TubeMogul and Chegg.

Source: Foundation Capital blog