Redpoint raises $650M 3 years after its last big early-stage fund

Redpoint Ventures, a well-established firm based in San Francisco, has recently announced the successful raising of a $650 million 10th early-stage fund, as reported in a regulatory filing.

This new fund is on par with their previous fund size, indicating stability and potential satisfaction among their limited partners amidst a trend of decreasing capital raises in the venture capital market.

Leading the firm’s early-stage strategy are four managing partners: Alex Bard, Satish Dharmaraj, Annie Kadavy, and Erica Brescia, the latter having joined the team in 2021 after a successful tenure as GitHub’s COO.

Notable investments by the early-stage team include AI coding startup Poolside, founded by former Redpoint partner Jason Warner, distributed SQL database developer Cockroach Labs, and procurement management platform Levelpath.

In addition to their early-stage focus, Redpoint also operates a growth strategy led by partners Logan Bartlett, Jacob Effron, Elliot Geidt, and Scott Raney. Their recent fifth growth-stage fund raised $740 million, slightly higher than the previous fund closed three years ago.

Some of Redpoint’s recent successful exits include Next Insurance, Tastemade, and HashiCorp, showcasing the firm’s track record of successful investments in various industries.

At the time of writing, Redpoint had not provided a comment on their recent fundraise.