Greycroft Closes Two Funds Worth $678 Million

Greycroft Closes Two Funds Worth $678 Million

Greycroft is getting even bigger.

The Los Angeles and New York firm announced Tuesday it closed two new funds: Greycroft VI, a $310 million venture fund with an emphasis on early-stage investments, as well as Greycroft Growth III, a new growth-stage fund with more than $368 million in commitments.

As one of the earlier VC firms in Los Angeles and one of the few with a war chest large enough to write checks for later rounds of up to $50 million, Greycroft has boomed in the last 14 years. The firm has gone from raising $75 million to $2 billion in capital.

Its portfolio now spans 60 companies with $100 million-plus valuations, including nine "unicorns" valued at more than a billion dollars, including electric scooter company Bird, the dating site Bumble and video gamer-maker Scopely, which Greycroft infused with $200 million of follow-on capital this spring.

Greycroft also invested in the fashion resale site The RealReal, which went public last year in a $2.4 billion exit.

"Greycroft partners with entrepreneurs along their journey, providing capital and expertise to support their vision from seed funding to exit," Greycroft co-founder Ian Sigalow said in a prepared statement.

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