HomeUSACommerce Ventures Closes Fund V, at Over $150M

Commerce Ventures Closes Fund V, at Over $150M

Commerce Ventures

Commerce Ventures, a San Francisco, CA-based venture capital firm focused on innovations across retail and financial services, closed its fifth fund, at over $150m.

The firm leverages a proprietary ecosystem of strategic investors which include nine of the largest US banks, two of the country’s largest retailers, three leading global insurers, and several of the world’s leading payment platforms. Working closely with these partners, the firm has developed dozens of unique thematic analyses, identified hundreds of category-leading innovators, and generated dozens of commercial partnerships. In addition to the firm’s set of strategic investors, all of its institutional allocators returned for Fund V, including leading firms such as Franklin Park, Industry Ventures, and StepStone Group. Since inception, financial investors in Commerce Ventures’ funds have also committed more than $100m to portfolio co-investments.

Founded in 2013, Commerce Ventures invests in the platforms and infrastructure that enable both the digitization of industry incumbents and the creation of new challenger brands across the Commerce Continuum. Since its inception, the firm has invested in over 100 companies, including category leaders such as Bill.com (BILL), Canary, Candex, Forter, FleetOps, Kevel, Kin, Marqeta (MQ), Mudflap, MX, Narvar, Socure, Trove and Vestwell.

The firm also works closely with nearly 100 strategic individual investors, including 12 current and former public company CEOs and more than 30 portfolio leaders.

Led by Dan Rosen, Founder and Partner, Commerce Ventures also announce that long-time advisor Daniel Eckert will expand his involvement and serve as a Venture Partner with the new fund. Eckert collaborated with the firm informally for many years, while running financial services and digital acceleration for Walmart during its omni-channel transformation and has been a Senior Advisor to Commerce Ventures for the past three years.

VCWire

04/03/2024