Redpoint Raises $650M in New Funding Round

Redpoint Ventures Secures $650 Million for Tenth Early-Stage Fund

Redpoint Ventures, a venture capital firm established approximately 25 years ago and headquartered in San Francisco, has successfully raised $650 million for its tenth early-stage fund, as detailed in a recent regulatory document.

Fund Size and Market Context

This new fund from Redpoint is equivalent in size to its previous fund, which was secured less than three years ago. In a venture capital landscape currently experiencing a trend of reduced funding amounts, this sustained level of investment suggests strong satisfaction among the firm’s limited partners with its investment returns.

Leadership of the Early-Stage Strategy

The firm’s early-stage investment approach is overseen by a team of four managing partners. These include Alex Bard, Satish Dharmaraj, Annie Kadavy, and Erica Brescia.

Erica Brescia joined Redpoint in 2021, bringing with her experience as the former COO of GitHub, where she served for almost three years.

Recent Investments

Notable recent investments made by the early-stage team encompass several promising companies. These include Poolside, an AI-powered coding startup founded by former Redpoint partner and GitHub CTO Jason Warner.

Further investments include Cockroach Labs, a developer of distributed SQL databases, and Levelpath, a platform focused on procurement management.

Growth-Stage Investments and Leadership

In addition to its early-stage focus, Redpoint also manages a growth-stage investment strategy. This is led by partners Logan Bartlett, Jacob Effron, Elliot Geidt, and Scott Raney.

Last year, the firm raised $740 million for its fifth growth-stage fund, representing a modest increase from the $725 million fund closed three years earlier.

Successful Exits

Redpoint has demonstrated a strong track record of successful exits. Recent examples include the sale of Next Insurance for $2.6 billion in March.

Other notable exits are Tastemade, a food and travel media company acquired by Wonder for $90 million, and HashiCorp, which was acquired by IBM for $6.4 billion.

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