Recent Fund Formations Represented by Gunderson Dettmer*

April 17, 2024Insights

Gunderson Dettmer is the recognized leader in the venture capital and growth equity fund formation marketplace. We routinely negotiate close to one-third of every venture capital dollar raised worldwide. Clients rely on our market knowledge and counsel to help balance the competing interests of limited partners, general partners, employees and portfolio companies, optimizing results for prevailing market trends.

*This fund formations list is exclusive to firms that have made public announcements and is not comprehensive of all work completed recently.

Matter Venture Partners Announces $300M Inaugural Fund to Invest in HardTech
Company focused on building the next generation of HardTech startups, Matter Venture Partners, announced the formation of its $300 million inaugural fund. 

Spark Capital Announces Spark Capital VIII and Spark Growth V Totaling $2.3B
To invest in early-stage and venture-growth funds, Spark Capital announced Spark Capital VIII and Spark Growth V totaling $2.3 billion in aggregate commitments.

Ballistic Ventures Announces $360M Fund II to Invest in Cybersecurity
To continue investing in the future of cybersecurity, Ballistic Ventures announced its $360 million Fund II. 

Artemis Fund Announces $36M Fund II to Invest in Women
To invest in early stage female and diverse founders, the Artemis Fund announced its $36 million second fund formation. 

AIX Ventures Announces $202M Fund II
AIX Ventures announced the formation of its $202 million fund for early-stage artificial intelligence (AI) companies.

TCG Labs-Soleil Announces Over $400M Inaugural Fund Formation
TCG Labs-Soleil announced its inaugural fund of over $400 million to establish and oversee a suite of portfolio companies, each focused on individual single-asset programs.

TCG Crossover Announces TCG Crossover Fund II
Life sciences-focused investment firm, TCG Crossover announces its  $1 billion TCG Crossover Fund II to invest in exceptional entrepreneurs focused on developing better treatment options for patients.

Union Square Ventures Announces New $200M Climate Fund
Union Square Ventures announces its new $200 million Climate Fund dedicated to investing, mitigating, and adapting to climate change.

Founder Collective Raises $95M Fund V for Seed Stage Investing
Founder Collective announced the closing of $95 million in capital commitments to invest in startups at the seed stage.

Protecto Announces $4M Seed Led by Together Fund
Provider of data privacy solutions across the AI lifecycle, Protecto announced its $4 million Seed financing to strengthen its technical edge by hiring engineering talent and expanding its go-to-market strategic initiatives.

Section 32 Announces $525M Fund 5
Section 32 announced its $525 million fifth fund formation to invest in companies that are "pushing the boundaries" in software and artificial intelligence.

Mercury Announces $160M Mercury Fund V
Mercury announced the $160 million Mercury Fund V, Mercury’s largest to date.

Questa Capital Announces $397M Fund Formation 
Questa Capital formed Questa Capital Partners III, a $397 million venture growth equity fund.

Brewer Lane Ventures Announces New $203M Fund
Brewer Lane Ventures announced Brewer Lane Ventures Fund II, a $203 million fund focused on investing in fintech and insurance companies.

Gunderson Dettmer Represents Yosemite in Fund Formation 
Yosemite, a newly formed VC firm announces its inaugural fund, Yosemite Fund I. The firm is a spinoff of Emerson Collective and was founded by Reed Jobs. 

Wing Announces New $600M Pool of Capital
Wing announced Wing Four, its new $600 million pool of capital, which will focus on early-stage investing and long-term company building in B2B technology, to include in emerging AI-first technology stacks.

Suffolk Technologies Announces the Closing of a $110M Venture Fund
Venture capital platform affiliated with Suffolk Construction, Suffolk Technologies, announced the formation of Suffolk Technologies Fund 1, its inaugural $110 million venture fund.

Correlation Ventures Announces $130M Fund Formation 
The U.S. venture industry's analytics-based investing pioneer, Correlation Ventures, announced Correlation III, a $130 million US venture capital fund.

Greycroft Closes More Than $1B of Capital Commitments
Greycroft's two flagship vehicles, Greycroft Partners VII and Greycroft Growth IV, enable the firm to continue to invest in early and growth-stage enterprise and consumer businesses.

Eclipse Raises $1.23B Across Two New Funds 
Gunderson Dettmer represented client Eclipse in the formation of its $720 million Eclipse Fund V and $510 million Eclipse Early Growth Fund II. The two vehicles bring the firm’s AUM to $4 billion.

Latin America-Based Kaszek Ventures Announces Nearly $1B for New Funds 
Kaszek Ventures announced the formation of two new funds, Kaszek Ventures VI, a $540 million early-stage fund, and Kaszek Ventures Opportunity III, a $435 million vehicle for later-stage investments.

OpenView Announces $570M Fund VII 
OpenView formed a $570 million fund, Fund VII. The company will use its seventh fund to partner with high-growth software startups.

8VC Announces $880M Fund, 8VC Fund V 
Gunderson Dettmer represented client 8VC in the formation of its $880 million 8VC Fund V to invest in companies that aim to “fix the world.”