Craft Ventures, a San Francisco, CA-based early-stage and growth firm building and scaling SaaS businesses, raised $1.32 Billion for two funds.
The vehicles include:
- Craft Ventures IV ($712m), the fourth early-stage fund; and
- Craft Ventures Growth II ($608m), the second growth fund.
The combination of venture and growth funds enables the firm to support B2B software companies across stages. They bring the firm’s assets under management to $3.3 billion.
The firm focuses on investing in B2B software companies because these are high-growth, high-margin businesses with recurring revenue. Moreover, once these companies achieve category leadership, they are hard to dislodge and tend to compound value over time.
The firm will support portfolio companies via services such as their Executive Briefing Center (EBC), which drives hundreds of Fortune 2000 CXOs to its enterprise-ready portfolio companies, the Talent team, which helps to place dozens of senior executives in engineering, GTM, finance, and operations executives across the portfolio, and operating partners in legal, finance, government relations, marketing, and communications, who help companies grow fast, manage risks, and tell their stories.
In addition to headquarters in San Francisco, the firm is opening of a new office in New York City’s Flatiron District, which will be home to Craft’s NYC-based team and a workspace for local portfolio company founders and teams.
The firm also added seasoned growth-stage investor Michael Robinson to lead its growth practice and Kevin Gabura, who joined the growth team, as well. They join David Sacks, Jeff Fluhr, Brian Murray, Arra Malekzadeh, Mike Marg, Lainy Painter Singh, Bryan Rosenblatt, Ethan Ruby, and Michael Tam.