Fundraising

Investors include high-net-worth individuals, family offices and registered investment advisers.

Since its launch in 2012, the firm has backed a host of iconic companies, including Zoom, Twitter, Square, Coinbase and Palantir.

The $865m fund will be invested by a new growth team led by former TCV general partner Shalini Rao and including alumni of Bessemer Venture Partners, EQT Group, Insight Partners and Bond.

Banco de Sabadell and the European Investment Fund committed to the sophomore vehicle, which raised €180 million.

Investors include Alaska Permanent Fund and Rockefeller Brothers Fund.

'Our thesis is a long-term thesis: this generation of consumers growing up online are in college or already working, so it’s inevitable that our worldview comes true,' says co-founder Jason Yeh.

The $100m fund was anchored by Horsley Bridge Partners and included nine high-profile VCs, including Marc Andreessen and Fred Wilson.

The early-stage investor closed on half of its sophomore vehicle just three months after holding a final close on its first fund.

Alpha Partners raised $153m for its third fund, nearly 3x more than Fund II, as investors bought into its strategy of helping early-stage VC firms maximize ownership in portfolio companies through the use of pro-rata participation rights.

Founded by a McKinsey & Co alum, Alkemi recently held a first close on about $50m for its sophomore fund, which is targeting $75m.