Greycroft Raises $678M for Dual Investment Strategy
New York and Los Angeles-based venture capital firm Greycroft has successfully closed two new funds totaling $678 million, reinforcing its position as a key player in early-stage and growth-stage investing. The firm, founded in 2006 by Alan Patricof, Dana Settle, and Ian Sigalow, will deploy this capital across its sixth flagship early-stage fund and a third growth-stage vehicle.
Fund Breakdown: Early-Stage vs. Growth-Stage
- Early-Stage Fund ($310M): Targets initial investments ranging from \(500K to \)10M, with follow-on funding up to $15M per company.
- Growth-Stage Fund ($368M): Writes larger checks starting at $10M, with capacity to invest up to $50M in high-potential portfolio companies.
Investment Focus and Portfolio Highlights
Greycroft maintains a consumer-first approach while also backing enterprise startups. Notable portfolio companies include:
- Goop (Gwyneth Paltrow’s lifestyle brand)
- The RealReal (luxury consignment platform, IPO 2019)
- Bumble (dating app preparing for a potential \(6B-\)8B IPO)
- Flutterwave (Nigeria-based fintech that raised $35M Series B in 2020)
- Sisu Cosmetics (recent $5.5M Series A recipient for US expansion)
Leadership and Firm Evolution
The firm’s seven-partner team, including co-founders Settle and Sigalow, oversees investments across 23 U.S. states and 15 countries. Meanwhile, Alan Patricof has shifted focus to Primetime Partners, his new venture targeting aging-related innovations with a $32M fund.
Track Record and Market Position
With this latest raise, Greycroft has:
- $2B+ total capital raised across 10 funds
- 200+ active investments worldwide
- Demonstrated success in guiding portfolio companies through IPOs and global expansions
This funding round marks a significant expansion from Greycroft’s previous funds: a $250M early-stage fund in 2018 and a $250M growth fund in 2017, reflecting growing investor confidence in the firm’s dual-stage investment strategy.
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