Gunderson Dettmer represented client AV8 Ventures in the closing of it $180 million second fund, AV8 Ventures II. The funding comes from Allianz Group, an insurance and asset management giant. The new fund will invest in seed stage and some Series A and will aim to go into 25 companies.

In the announcement of the transaction, managing director at AV8 George Ugras said, “The idea is to operate as a financial VC with the support of the world’s largest insurance company and asset manager behind us.”

The Gunderson Dettmer teams were led by Nicholas Guttilla and included Andrew Fink.