Greycroft Explained

Greycroft LP
Type:Private
Foundation:2006
Location:New York, New York
Industry:Venture capital
Num Employees:60

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 and Los Angeles.[5]

History

Greycroft was founded in 2006 by venture capital pioneer Alan Patricof. He previously founded Apax Partners, one of Europe's largest private equity groups with $50 billion under management.[6] [7] Patricof's transition is linked to a renewed desire for early-stage investing.[8] Patricof is known for his investments and involvement with companies such as AOL, Apple Inc., Office Depot, and New York magazine.[9]

Funds

Greycroft raised its first fund (Greycroft I) with $75 million of investor commitments in 2006,[10] Greycroft II with $131 million in 2010, Greycroft III with $175 million fund in 2015,[11] Greycroft IV with $200 million in 2018,[12] Greycroft V with $250 million in 2018,[13] and Greycroft VI with $310 million in 2020.[14] In 2014, Greycroft raised its first growth fund, Greycroft Growth, with $200 million.[15]

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.[16] Greycroft raised Greycroft Growth III, a $368 million growth fund in 2020.[17] [18]

The firm is investing from two funds today:[19]

The venture fund (Greycroft VI) invests between $100,000 and $5 million in a first check, while the growth fund invests up to $50 million in a company. These two funds enable the firm to support entrepreneurs at any stage, from inception through exit.

Investments

Greycroft has invested in over 300 companies located in 45 cities internationally, with the majority of these companies headquartered in the United States.[20]

The firm's notable investments include:

Notes and References

  1. Web site: 43 NYC Venture Capital Firms You Should Know . Built in NYC . August 8, 2020.
  2. Web site: 17 Los Angeles venture capital firms you should know . Built in LA . August 8, 2020.
  3. Web site: Top 10 venture capital firms . FinTech . August 8, 2020 . January 21, 2021 . https://web.archive.org/web/20210121032829/https://www.fintechmagazine.com/top10/top-10-venture-capital-firms/greycroft . dead .
  4. News: An 82-Year-Old VC Makes a Splash With Young Startups . August 8, 2020 . Forbes.
  5. News: Noto. Anthony. July 18, 2018. Greycroft: 'Our most successful investments weren't in NYC or LA'. New York Business Journal. June 20, 2020.
  6. Web site: Patricof Goes Back To Early-Stage Investing. Reuters Buyouts. March 16, 2006.
  7. Web site: Legendary media investor Alan Patricof's new Web 2.0 life. Fortune. September 11, 2007.
  8. Web site: The World According to Alan Patricof. American City Business Journals. December 4, 2007.
  9. News: No More Shuffleboard. New VC Firm Targets Aging Boomers. . August 10, 2020 . WSJ..
  10. Web site: Early-Stage VC Greycroft Closes $200M Growth Fund. The Wall Street Journal. June 19, 2014.
  11. Web site: Greycroft raises $200 mln fourth fund. Boslet. Mark. November 30, 2015. PE Hub Network.
  12. Web site: Greycroft raises $250M for its fifth early-stage fund. TechCrunch. July 18, 2018. en-US. April 30, 2020.
  13. News: Ha. Anthony. July 18, 2018. Greycroft raises $250M for its fifth early-stage fund. TechCrunch. October 13, 2020.
  14. Web site: TechCrunch. October 7, 2020. TechCrunch. October 7, 2020. en-US.
  15. News: Chernova. Yuliya. June 19, 2014. Early-Stage VC Greycroft Closes $200M Growth Fund. The Wall Street Journal. July 20, 2020.
  16. News: Roof. Katie. February 9, 2017. Greycroft Announces $250 Million Growth Fund. TechCrunch. July 20, 2020.
  17. News: Ellingson. Annlee. October 7, 2020. Greycroft raises $678 million for two new funds. L.A. Biz. October 9, 2020.
  18. News: Clark. Kate. October 6, 2020. Greycroft Announces $678 Million in New Funds. The Information. October 15, 2020.
  19. Web site: Our Story. Greycroft Partners. June 16, 2017.
  20. Web site: Our Companies. June 16, 2017. Greycroft Partners.
  21. Web site: EBay's PayPal Acquires Payments Gateway Braintree For $800M In Cash. TechCrunch. September 26, 2013.
  22. Web site: Salesforce in talks to buy Buddy Media for over $800M, report says. VentureBeat. May 29, 2012.
  23. Web site: Investors continue to pour money into dental startups. TechCrunch. April 9, 2019 . en-US. April 9, 2019.
  24. Web site: Chamillionaire Presents New App in Convoz . February 12, 2018 .
  25. Web site: Disney to Buy Maker Studios in Deal Worth Up to $950 Million. . March 24, 2014.
  26. News: Buhr. Sarah. September 20, 2017. Albertsons snaps up meal kit startup Plated for $200 million. TechCrunch. April 20, 2020.
  27. News: April 6, 2020. Investing in the Grocery Industry's Future: A Venture Capitalist's Perspective. Winsight Grocery Business. April 28, 2020.
  28. Web site: After raising $125M, Munchery fails to deliver. TechCrunch. January 22, 2019 . en-US. January 22, 2019.
  29. Web site: Providing supplemental educational videos for healthcare online nets Osmosis $4 million. TechCrunch. June 11, 2019 . en-US. June 11, 2019.
  30. Web site: Streem buys Selerio in effort to boost its AR teleconferencing tech. TechCrunch. May 23, 2019 . en-US. May 23, 2019.
  31. Web site: Nordstrom Will Pay $350 Million for Trunk Club. . July 31, 2014.
  32. News: Rao. Leena. July 13, 2016. PayPal Is Okay If Millennials Don't Know It Owns Venmo. . July 28, 2020.
  33. News: Slade. Hollie. May 13, 2014. 'Costco Of Mobile Apps' Boxed Raises $6.5M To Take On Amazon Prime. . July 28, 2020.
  34. News: O'Malley. Gavin. October 29, 2019. Scopely Raises $200M Earmarked For M&A, Game Expansion. MediaPost. July 28, 2020.
  35. News: Zhong. Carol. November 20, 2019. Tencent-Backed Yeahka to Seek $300 Million in Hong Kong IPO. Bloomberg.
  36. News: Clark. Kate. November 29, 2018. Insurance startup Bright Health raises $200M at ~$950M valuation. TechCrunch. November 29, 2018.
  37. News: Chitrakorn. Kati. September 6, 2018. How Anine Bing Is Avoiding the Nasty Gal Trap. Business Of Fashion. July 28, 2020.
  38. News: Loizos. Connie. January 14, 2016. Analytics Firm App Annie Raises $63 Million in Series E Funding. TechCrunch. July 28, 2020.
  39. News: Roof. Katie. June 27, 2016. Thrive Market raises $111 million for its online organic grocery store. TechCrunch. July 28, 2020.
  40. News: 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. July 28, 2020.
  41. News: Bright. Jake. January 21, 2020. African fintech firm Flutterwave raises $35M, partners with Worldpay. TechCrunch. July 28, 2020.
  42. News: Rooney. Kate. January 28, 2019. Fintech start-up Acorns valued at $860 million after latest funding round. CNBC. July 28, 2020.
  43. News: Singh. Manish. July 17, 2019. Contract management startup Icertis becomes unicorn with $115M new round. TechCrunch. July 28, 2020.
  44. News: Spangler. Todd. March 2, 2020. Social-Investing App Startup Public Raises $15 Million From Will Smith, JJ Watt, Sophia Amoruso and Others. Variety. July 28, 2020.
  45. News: Baer. Justin. September 29, 2019. Now You Can Build Your Own Real-Estate Empire, $100 at a Time. The Wall Street Journal. July 28, 2020.
  46. News: Mullin. Benjamin. November 17, 2020. Axios Raises $20 Million to Fund Newsroom Expansion. The Wall Street Journal. July 28, 2020.
  47. News: Adams. Richard. February 7, 2011. Huffington Post sold to AOL for $315m. The Guardian. July 28, 2020.
  48. Web site: June 29, 2021. Mapped raises $6.5M to build API for the 'digital twin of data infrastructure'. February 24, 2022. VentureBeat. en-US.

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