Thursday, June 29, 2017

Upfront Ventures Raises $400M In New Fund

Los Angeles-based venture capital investment firm Upfront Ventures has announced its latest fund, Upfront VI, to the tune of $400M, the company said on Thursday. According to Upfront, the new fund brings its total combined funds under management to nearly $2 billion. Upfront said that it continues to look mostly at Seed or A-round investments, with a median check size of $2.8 million, but said it also invests earlier or even leads B-rounds if it know the team well or the market. In a blog post announcing the new fund, Upfront's Mark Suster said that "LA is having a moment" and that both venture capitalists and its LP realize it. The new fund is the latest in a long string of new fund announcements in the Los Angeles area this year, although Upfront's fund is by far the largest.