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Robert Carter 2019-10-15

Craft Ventures, the venture firm launched in 2017 by serial entrepreneur David Sacks, has closed its second fund with $500 million in capital commitments, an amount the firm was said to begin targeting roughly a year ago.

The outfit — which Sacks runs with other serial entrepreneurs Bill Lee (Remarq, Social Concepts), Jeff Fluhr (StubHub, Spreecast) and Sky Dayton (who has founded and co-founded a lot of companies) — invests in series seed, A and B rounds, in a wide range of companies that neatly fit into each investor’s wheelhouse.

For his part, Sacks, who was the COO of PayPal before founding the genealogy website Geni.com, then Yammer, is focused on both consumer and enterprise startups as long as they can go viral.

His signature bet at Craft is Bird, the e-scooter company whose Series A round Craft led.

(Bird founder Travis VanderZanden announced the company’s Series D round of $275 million at a $2.5 billion valuation during our recent TechCrunch Disrupt event.)

Lee is focused on breakthrough technologies and counts among his investments the esports company Cloud9, a company that went on to raise $50 million in Series B funding last year (and is probably due to announce yet another round soon).

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Kyle Patterson 2017-07-18
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Artsy, the New York startup that has positioned itself as the go-to place for all things arty — a platform for people to learn about visual art online as well as explore opportunities to buy and sell work — has raised $50 million in funding.

The company is not disclosing its valuation but deal intelligence service Pitchbook notes that it is $275 million post-money (and $225 million pre-money).

Carter Cleveland, Artsy’s co-founder and CEO, said in an interview that the plan is to use the investment to dive deeper into auctions, which today are the fastest-growing part of the site after the company secured partnerships with Christie’s, Sotheby’s and Phillips, the three leading brick-and-mortar auction houses.

Meanwhile, Artsy’s current business mainstay — developing and hosting sites for 1,800 commercial galleries in 90 countries, and selling their work online — has helped contribute to $20 million of sales each month from a user base of 2 million unique visitors per month (who also visit it for its content, which includes an in-house magazine and other informational content).

The Series D, which brings the total raised by Artsy to around $100 million, was led by Avenir Growth Capital, a new firm out of New York, and includes a very long list of investors — 56, according to the Form D we spotted.

Some of the most prominent are worth noting.

collect
0
Robert Carter 2019-10-15

Craft Ventures, the venture firm launched in 2017 by serial entrepreneur David Sacks, has closed its second fund with $500 million in capital commitments, an amount the firm was said to begin targeting roughly a year ago.

The outfit — which Sacks runs with other serial entrepreneurs Bill Lee (Remarq, Social Concepts), Jeff Fluhr (StubHub, Spreecast) and Sky Dayton (who has founded and co-founded a lot of companies) — invests in series seed, A and B rounds, in a wide range of companies that neatly fit into each investor’s wheelhouse.

For his part, Sacks, who was the COO of PayPal before founding the genealogy website Geni.com, then Yammer, is focused on both consumer and enterprise startups as long as they can go viral.

His signature bet at Craft is Bird, the e-scooter company whose Series A round Craft led.

(Bird founder Travis VanderZanden announced the company’s Series D round of $275 million at a $2.5 billion valuation during our recent TechCrunch Disrupt event.)

Lee is focused on breakthrough technologies and counts among his investments the esports company Cloud9, a company that went on to raise $50 million in Series B funding last year (and is probably due to announce yet another round soon).

Kyle Patterson 2017-07-18
img

Artsy, the New York startup that has positioned itself as the go-to place for all things arty — a platform for people to learn about visual art online as well as explore opportunities to buy and sell work — has raised $50 million in funding.

The company is not disclosing its valuation but deal intelligence service Pitchbook notes that it is $275 million post-money (and $225 million pre-money).

Carter Cleveland, Artsy’s co-founder and CEO, said in an interview that the plan is to use the investment to dive deeper into auctions, which today are the fastest-growing part of the site after the company secured partnerships with Christie’s, Sotheby’s and Phillips, the three leading brick-and-mortar auction houses.

Meanwhile, Artsy’s current business mainstay — developing and hosting sites for 1,800 commercial galleries in 90 countries, and selling their work online — has helped contribute to $20 million of sales each month from a user base of 2 million unique visitors per month (who also visit it for its content, which includes an in-house magazine and other informational content).

The Series D, which brings the total raised by Artsy to around $100 million, was led by Avenir Growth Capital, a new firm out of New York, and includes a very long list of investors — 56, according to the Form D we spotted.

Some of the most prominent are worth noting.