NEW YORK, N.Y., June 19, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Greycroft Partners, a leading venture capital firm that specializes in Internet and mobile companies, announced today the closing of its latest fund, Greycroft Growth. Greycroft Growth was substantially oversubscribed, but held to the original capped amount of $200 million.
"Greycroft Growth is part of a natural evolution for the firm to service our portfolio companies that have broken through and demonstrated a strong growth trajectory," said Ian Sigalow, Partner and Co-Founder of Greycroft Partners. "The new fund also gives us the opportunity to invest in companies that we had followed previously, but could not invest in because of their larger size and later stage."
Strategically placed in New York and Los Angeles, Greycroft has a strong network in the two largest cities in the United States. This benefits Greycroft companies by providing them privileged access to the largest media companies, retailers, brands, agencies, and financial institutions in the world.
Greycroft looks for cutting-edge innovation on a global basis, and approximately 90% of Greycroft's companies are headquartered outside of Silicon Valley. In addition to its core markets, the firm has recently invested in companies based in Beijing, Reykjavik, Indianapolis, London, Minneapolis, Tokyo and Austin. Greycroft currently has 83 active portfolio companies that are headquartered in 36 cities and nine countries, employing over 5,000 people worldwide.
Since its founding in 2006, Greycroft has had numerous successes:
"We observed a trend when we started Greycroft in 2006 that innovation was no longer limited to a select few markets," remarked Dana Settle, Co-Founder and Partner of Greycroft Partners. "Many of our biggest successes to date have been in markets outside of Silicon Valley and our first investment from Greycroft Growth is in AppAnnie which is based in Beijing."
General Partners Alan Patricof, Dana Settle, and Ian Sigalow will be leading Greycroft Growth along with last year's new Partner additions, Mark Terbeek and John Elton. Venture Partners Bo Peabody and Paul Bricault will also support the fund.
"We also anticipate hiring new investment professionals, specifically dedicated to the growth fund," said Alan Patricof, Partner and Co-Founder of Greycroft Partners. "We are expanding the team to continue providing our companies with business development and recruiting across all stages of investment and in all markets around the world."
Greycroft Partners is a leading venture capital firm focused on investments in the Internet and mobile markets. With offices in the two media capitals of the world - New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, successfully bring their products to market, and build successful businesses. Greycroft manages $600 million and has made over 100 investments since inception, including leading companies such as AppAnnie, Baublebar, Braintree, Buddy Media, Collective, Extreme Reach, Huffington Post, JW Player, Klout, Maker Studios, Plain Vanilla, Pulse, TheRealReal, Trunk Club, and WideOrbit. For more information please visit the Greycroft Partners website at http://www.greycroft.com.
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Greycroft Partners Elizabeth Conway +1 212-893-1208