Acrew Capital, based in San Francisco, recently announced that they have successfully raised $700 million in new funds. This brings their total assets under management to $1.7 billion. The capital will be used to invest in companies specializing in data and security, healthcare, and fintech.
The breakdown of how the $700 million will be allocated is still unclear. Acrew Capital has two investment strategies – one for early-stage companies (seed and Series A) and the other for more established companies (Series B and Series C). It will be interesting to see how much of the new funds will go towards each strategy.
This milestone comes as Acrew Capital celebrates its fifth anniversary. This is a significant achievement, especially given the challenges faced by many venture capital firms this year. Despite the tough fundraising environment, U.S. VC firms have managed to raise $65.1 billion across 305 funds in 2024.
Acrew Capital’s success can be attributed to its impressive portfolio of investments. The firm has already seen multiple successful exits, including the acquisition of Divvy by BILL for $2.5 billion and Superpeer by Skillshare. They are also investors in promising private companies like At-Bay and Pie Insurance, both valued at over $1 billion.
Founded in 2019 by Theresia Gouw, Lauren Kolodny, Vishal Lugani, Asad Khaliq, and Mark Kraynak, Acrew Capital has come a long way since its inception. The firm’s first fund of $258 million has now grown substantially, reflecting their strong performance in the venture capital space.
Overall, Acrew Capital’s recent fundraising success and impressive track record in investments solidify its position as a key player in the venture capital industry. With the new funds, they are well-positioned to continue supporting innovative companies in various sectors and driving growth in the tech ecosystem.
