Upfront Ventures, a Los Angeles-based venture capital firm, has filed paperwork with the U.S. Securities and Exchange Commission to raise its third growth-stage investment fund.
Though the firm typically invests at the seed and Series A, capital from Upfront Growth III will be used for follow-on or late-stage deals.
The firm, known for its investments in Bird, Goat, Ring, ThredUP and Parachute, plans to raise $250 million for the effort. Mark Suster and Yves Sisteron, listed on the filing, lead the firm as managing partners. Upfront’s investor line-up also includes partners Kobie Fuller, Greg Bettinelli, Kara Nortman and Kevin Zhang.
One of the oldest VCs rooted in LA, Upfront previously closed on $400 million for its sixth flagship early-stage fund in 2017.
LA is on pace for a banner year of VC investment, attracting $33 billion across more than 1,000 deals already in 2019, according to PitchBook. Last year, companies headquartered in LA raised more than $60 billion.
Written by Kate Clark
This news first appeared on https://techcrunch.com/2019/07/03/upfront-ventures-growth-fund/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29 under the title “Bird investor Upfront Ventures eyes $250M growth fund”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
