 | |
| Company type | Private |
|---|---|
| Industry | Venture Capital |
| Founded | 2006 |
| Headquarters | New York, New York |
Number of employees | 60 |
| Website | www |
Greycroft 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[edit]
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[edit]
Greycroft raised its first fund (Greycroft I) with $75 million of investor commitments in 2006,[10] Greycroft II with $131 million in 2010,[10] 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]
- Greycroft VI: $310 million venture fund
- Greycroft Growth III: $368 million growth-stage fund
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.[19]
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.[20]
The firm's notable investments include:
- Braintree, acquired by PayPal for $800 million in 2013[21]
- Buddy Media, acquired by Salesforce.com for $800 million in 2012[22]
- Candid, raised a $63.4 million Series B round in 2019[23]
- Convoz, a startup founded by Chamillionaire.[24]
- Maker Studios, acquired by Disney for $950 million in 2014[25]
- Plated.com, acquired by Albertsons for $200 million in 2017[26][27]
- Munchery, ceased operations in 2019[28]
- Osmosis, raised a $4 million Series A round in 2019[29]
- Selerio, acquired by Streem in 2019[30]
- Trunk Club, acquired by Nordstrom for $350 million in 2014[31]
- Venmo, acquired by PayPal for $800 million in 2016[32]
- Boxed, raised $6.5M in 2014[33]
- Scopely, raised $200M Series D round in 2019[34]
- Yeahka, IPO executed on Hong Kong Stock Exchange in 2020[35]
- BrightHealth, raised $200M Series C in 2018[36]
- Anine Bing, raised $15M Series A in 2018[37]
- App Annie, raised $63M Series E in 2016[38]
- Thrive Market, raised $111M Series B in 2016[39]
- The RealReal, whose IPO was executed in June 2019 and listed to Nasdaq[40]
- Flutterwave, raised $35M Series B in 2019[41]
- Acorns, raised $105M Series E round in 2019[42]
- Icertis, became a "unicorn" and raised a $115M Series E in 2019[43]
- Public.com, raised $15M Series B in 2020[44]
- LEX Markets, raised $4M Seed in 2019[45]
- Axios, raised $20M Series B in 2017[46]
- Huffington Post, sold to AOL for $315M in 2011[47]
- Mapped, raised $6.5M Seed II in 2021[48]
- Free Range Games, raised undisclosed amount Series A in 2015[citation needed]
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. 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.
- ^ "Patricof Goes Back To Early-Stage Investing". Reuters Buyouts. March 16, 2006.
- ^ "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.
- ^ a b "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.
