Greycroft
 | This article contains promotional content. (October 2024) |
 | |
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 2006 |
| Headquarters | New York, New York, Los Angeles, California, San Francisco, California |
Number of employees | 60 |
| Website | www |
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
[edit]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
[edit]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
[edit]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:
- Braintree, acquired by PayPal for $800 million in 2013[26]
- Buddy Media, acquired by Salesforce.com for $800 million in 2012[27]
- Candid, raised a $63.4 million Series B round in 2019[28]
- Convoz, a startup founded by Chamillionaire.[29]
- Maker Studios, acquired by Disney for $950 million in 2014[30]
- Plated.com, acquired by Albertsons for $200 million in 2017[31][32]
- Munchery, ceased operations in 2019[33]
- Osmosis, raised a $4 million Series A round in 2019[34]
- Selerio, acquired by Streem in 2019[35]
- Trunk Club, acquired by Nordstrom for $350 million in 2014[36]
- Venmo, acquired by PayPal for $800 million in 2016[37]
- Boxed, raised $6.5M in 2014[38]
- Scopely, raised $200M Series D round in 2019[39]
- Yeahka, IPO executed on Hong Kong Stock Exchange in 2020[40]
- BrightHealth, raised $200M Series C in 2018[41]
- Anine Bing, raised $15M Series A in 2018[42]
- App Annie, raised $63M Series E in 2016[43]
- Thrive Market, raised $111M Series B in 2016[44]
- The RealReal, whose IPO was executed in June 2019 and listed to Nasdaq[45]
- Flutterwave, raised $35M Series B in 2019[46]
- Acorns, raised $105M Series E round in 2019[47]
- Icertis, became a "unicorn" and raised a $115M Series E in 2019[48]
- Public.com, raised $15M Series B in 2020[49]
- LEX Markets, raised $4M Seed in 2019[50]
- Axios, raised $20M Series B in 2017[51]
- Huffington Post, sold to AOL for $315M in 2011[52]
- Mapped, raised $6.5M Seed II in 2021[53]
- Free Range Games, raised undisclosed amount Series A in 2015[citation needed]
- AmplifAI raised $18.5 million Series A in 2021 [54]
References
[edit]- ^ "43 NYC Venture Capital Firms You Should Know". Built in NYC. Retrieved August 8, 2020.
- ^ "17 Los Angeles venture capital firms you should know". Built in LA. Retrieved August 8, 2020.
- ^ "Top 10 venture capital firms". FinTech. Archived from the original on January 21, 2021. Retrieved August 8, 2020.
- ^ "An 82-Year-Old VC Makes a Splash With Young Startups". Forbes. Retrieved August 8, 2020.
- ^ Noto, Anthony (July 18, 2018). "Greycroft: 'Our most successful investments weren't in NYC or LA'". New York Business Journal. Retrieved June 20, 2020.
- ^ Rublin, Lauren R. (September 7, 2023). "A Venture Capital Pioneer Sizes Up Today's Market". Barron's. Retrieved September 5, 2024.
- ^ "Patricof Goes Back To Early-Stage Investing". Reuters Buyouts. March 16, 2006.[permanent dead link]
- ^ "Legendary media investor Alan Patricof's new Web 2.0 life". Fortune. September 11, 2007.
- ^ "The World According to Alan Patricof". American City Business Journals. December 4, 2007.
- ^ "No More Shuffleboard. New VC Firm Targets Aging Boomers". WSJ. Retrieved August 10, 2020.
- ^ a b "Early-Stage VC Greycroft Closes $200M Growth Fund". The Wall Street Journal. June 19, 2014.
- ^ Boslet, Mark (November 30, 2015). "Greycroft raises $200 mln fourth fund". PE Hub Network.
- ^ "Greycroft raises $250M for its fifth early-stage fund". TechCrunch. July 18, 2018. Retrieved April 30, 2020.
- ^ Ha, Anthony (July 18, 2018). "Greycroft raises $250M for its fifth early-stage fund". TechCrunch. Retrieved October 13, 2020.
- ^ "TechCrunch". TechCrunch. October 7, 2020. Retrieved October 7, 2020.
- ^ Chernova, Yuliya (June 19, 2014). "Early-Stage VC Greycroft Closes $200M Growth Fund". The Wall Street Journal. Retrieved July 20, 2020.
- ^ Roof, Katie (February 9, 2017). "Greycroft Announces $250 Million Growth Fund". TechCrunch. Retrieved July 20, 2020.
- ^ Ellingson, Annlee (October 7, 2020). "Greycroft raises $678 million for two new funds". L.A. Biz. Retrieved October 9, 2020.
- ^ Clark, Kate (October 6, 2020). "Greycroft Announces $678 Million in New Funds". The Information. Retrieved October 15, 2020.
- ^ Wiggers, Kyle (April 26, 2023). "Greycroft closes on over $1 billion across new funds". TechCrunch. Retrieved October 25, 2024.
- ^ Wiggers, Kyle (June 25, 2024). "Stability AI lands a lifeline from Sean Parker, Greycroft". TechCrunch. Retrieved October 25, 2024.
- ^ Fink, Charlie. "Contextual AI Raises $80 Million, Judge Calls Google A Monopolist, Bytedance Intros Jimeng Text-To-Video AI". Forbes. Retrieved October 25, 2024.
- ^ bacohido (January 31, 2024). "News alert: Reken raises $10M from Greycroft to protect against generative AI-enabled fraud". Security Boulevard. Retrieved October 25, 2024.
- ^ "Our Story". Greycroft Partners. Retrieved June 16, 2017.
- ^ "Our Companies". Greycroft Partners. Retrieved June 16, 2017.
- ^ "EBay's PayPal Acquires Payments Gateway Braintree For $800M In Cash". TechCrunch. September 26, 2013.
- ^ "Salesforce in talks to buy Buddy Media for over $800M, report says". VentureBeat. May 29, 2012.
- ^ "Investors continue to pour money into dental startups". TechCrunch. April 9, 2019. Retrieved April 9, 2019.
- ^ "Chamillionaire Presents New App in Convoz". February 12, 2018.
- ^ "Disney to Buy Maker Studios in Deal Worth Up to $950 Million". Time. March 24, 2014.
- ^ Buhr, Sarah (September 20, 2017). "Albertsons snaps up meal kit startup Plated for $200 million". TechCrunch. Retrieved April 20, 2020.
- ^ "Investing in the Grocery Industry's Future: A Venture Capitalist's Perspective". Winsight Grocery Business. April 6, 2020. Retrieved April 28, 2020.
- ^ "After raising $125M, Munchery fails to deliver". TechCrunch. January 22, 2019. Retrieved January 22, 2019.
- ^ "Providing supplemental educational videos for healthcare online nets Osmosis $4 million". TechCrunch. June 11, 2019. Retrieved June 11, 2019.
- ^ "Streem buys Selerio in effort to boost its AR teleconferencing tech". TechCrunch. May 23, 2019. Retrieved May 23, 2019.
- ^ "Nordstrom Will Pay $350 Million for Trunk Club". Recode. July 31, 2014.
- ^ Rao, Leena (July 13, 2016). "PayPal Is Okay If Millennials Don't Know It Owns Venmo". Fortune. Retrieved July 28, 2020.
- ^ Slade, Hollie (May 13, 2014). "'Costco Of Mobile Apps' Boxed Raises $6.5M To Take On Amazon Prime". Forbes. Retrieved July 28, 2020.
- ^ O'Malley, Gavin (October 29, 2019). "Scopely Raises $200M Earmarked For M&A, Game Expansion". MediaPost. Retrieved July 28, 2020.
- ^ Zhong, Carol (November 20, 2019). "Tencent-Backed Yeahka to Seek $300 Million in Hong Kong IPO". Bloomberg.
- ^ Clark, Kate (November 29, 2018). "Insurance startup Bright Health raises $200M at ~$950M valuation". TechCrunch. Retrieved November 29, 2018.
- ^ Chitrakorn, Kati (September 6, 2018). "How Anine Bing Is Avoiding the Nasty Gal Trap". Business Of Fashion. Retrieved July 28, 2020.
- ^ Loizos, Connie (January 14, 2016). "Analytics Firm App Annie Raises $63 Million in Series E Funding". TechCrunch. Retrieved July 28, 2020.
- ^ Roof, Katie (June 27, 2016). "Thrive Market raises $111 million for its online organic grocery store". TechCrunch. Retrieved July 28, 2020.
- ^ 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.
- ^ Bright, Jake (January 21, 2020). "African fintech firm Flutterwave raises $35M, partners with Worldpay". TechCrunch. Retrieved July 28, 2020.
- ^ Rooney, Kate (January 28, 2019). "Fintech start-up Acorns valued at $860 million after latest funding round". CNBC. Retrieved July 28, 2020.
- ^ Singh, Manish (July 17, 2019). "Contract management startup Icertis becomes unicorn with $115M new round". TechCrunch. Retrieved July 28, 2020.
- ^ 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.
- ^ 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.
- ^ Mullin, Benjamin (November 17, 2020). "Axios Raises $20 Million to Fund Newsroom Expansion". The Wall Street Journal. Retrieved July 28, 2020.
- ^ Adams, Richard (February 7, 2011). "Huffington Post sold to AOL for $315m". The Guardian. Retrieved July 28, 2020.
- ^ "Mapped raises $6.5M to build API for the 'digital twin of data infrastructure'". VentureBeat. June 29, 2021. Retrieved February 24, 2022.
- ^ Titlow, John Paul (October 12, 2021). "AmplifAI's data-powered people enablement platform gets a $18.5M investment". VentureBeat. Retrieved December 11, 2024.
