$225M to $43B VC Fund

31 Aug 2023 · 1 min

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A Boulder venture firm grew from a $225 million first fund to $43 billion under management. Over the past five to six years, it shifted strategy, now putting 25-30% of new capital into other seed-focused venture funds instead of direct investments.

Chapters

Our first fund. We're based out of Boulder, Colorado. Our first fund was $225 million. We now manage about $4.3 billion. We initially were a pretty traditional seed series A fund. Again, context of 2007, landscape was a little bit different than it is today, which I'm sure we'll talk about, but that's evolved a bit. And over the last, especially five or six years, we've really sort of leaned into a slightly different strategy, which is that we invest in other venture funds with a portion of our capital. It's about 25, 30% of the capital of the new funds, and those are typically smaller kind of seed based, seed focused funds.