Upfront Ventures raises $400m

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Upfront Ventures has raised $400 million for its Upfront VI. The Santa Monica-headquartered firm set a $380 million target and began fundraising in 2017.

Its previous fund raised $300 million in 2014.

Investors that committed to Upfront VI include the San Francisco Employees' Retirement System.

The fund will target venture capital opportunities in a diverse number of sectors in the United States.