Smash Ventures, Backer of Epic Games and Manscaped, Raises $500 Million for New Fund
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Smash Ventures, Backer of Epic Games and Manscaped, Raises $500 Million for New Fund

Smash Ventures, a late-stage venture capital firm founded by former Disney executives, has raised $500 million for a new venture fund, according to a regulatory filing with the Securities and Exchange Commission.

Hollywood-based Smash has announced only a handful of tech investments since launching in 2018. The firm, led by co-founders and managing partners Eric Garland and Evan Richter, has backed Fortnite-creator Epic Games, sports betting giant DraftKings, conspicuously named grooming brand Manscaped, and search engine DuckDuckGo.

Smash maintained a relatively low profile until March 2021, when it announced a $75 million fund. At the time, the founders claimed that they had already deployed a total of $500 million in capital.

Nine-figure raises aren’t unusual for late-stage VCs like Smash, and some established names have pushed the envelope further. Venture capital giant Andreessen Horowitz, for example, secured $2.2 billion last year solely to invest in cryptocurrency-related ventures.

Smash Ventures did not respond to a request for comment on the new fund.

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Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.
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