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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The deal culminates a close partnership that began in 2016 when Scopely turned to PierPlay to help develop a Scrabble game to compete with with Zynga's popular Words with Friends, an off-brand word game that Hasbro has been trying to shut down since it launched in 2009.