8VC Announces $880M Fund, 8VC Fund V
Gunderson Dettmer represented client 8VC in the formation of its $880 million 8VC Fund V. 8VC now has over $6 billion in AUM and plans to invest Fund V in companies that aim to “fix the world.”
In the announcement of the fund formation, 8VC founder Joe Lonsdale wrote “There are huge challenges facing our civilization, to be sure, and challenges to entrepreneurship as well. But as entrepreneurs, broken things present opportunities. And when we look deeper we see amazing transformations taking place all around us. AI is transforming the world inside and outside of computers; genomic engineering and new scientific knowledge are transforming the world of cells; advanced manufacturing is transforming the world of machines; new business models, incentives and innovation are transforming how we receive our healthcare. These are a few of our frontiers.”
The Gunderson Dettmer fund formation team consisted of Andrew Thornborrow, Olga Zolotnik, Laura Wong, Sara Gerdes and a team of paralegals led by Aimee Li.