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.
Mark Terbeek is a leading B2B investor and on the board of Scopely, Icertis and more. On this episode of L.A. Venture , he shares his current investment theses and explains how Greycroft operates as a seed-to-growth-stage venture fund.
What sets Greycroft apart, Terbeek says, is the fund's flexibility, and its focus on "sexy" B2B and enterprise companies.
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Mr. Rogers made the boob tube acceptable television for a generation of kids and parents who had previously seen the small screen as antithetical to learning. Chris Ovitz wants do the same for his new mobile app OK Play, another in a recent blitz of edutainment products for children.
But this one, Ovitz said he has a twist: It's also made for parents. OK Play asks them to put their phones down and play with their young children.
Founding team JJ Aguhob, Chris Ovtiz, Dr. Colleen Russo Johnson, Ken Chung and Travis Chen<p>Originally, OK Company planned to launch their app later this year, but the pandemic left so many families stuck at home searching for child activities that it accelerated the timeline for their launch.</p><p>"We really want to try and help strip away the stress and pressures on parents, remind them that it's okay to just be wherever they are," she said.</p><p>The company will compete in an increasingly crowded multi-billion-dollar edutainment marketplace, but their ambitions are to transcend it.</p><p>"I think the overarching dream for us is to build that once-in-a-generation children's entertainment and technology company, but we can't get there until we really start to build this," said OK Company CEO Aguhob.</p><p>"We are at the starting line," he said, noting there is room to grow eventually adding books, toys and other physical merchandise that traditional media franchises have used to expand their reach.</p><p>"We're not just going to make traditional entertainment because it's the thing that you do," he said "We're going to create a new interactive experience that brings families together. And from that, the media is going to look different." </p><p><em><em>Do you have a story that needs to be told? My DMs are open on Twitter <a href="https://twitter.com/racheluranga" rel="noopener noreferrer" target="_blank">@racheluranga</a>. You can also <a href="mailto:mailto:firstname.lastname@example.org" target="_self">email me</a>.</em></em></p><p><em>**An earlier version misidentified Michael Ovitz's title. </em></p>
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