Redpoint Ventures Raises $650M Early-Stage Fund

San Francisco-based venture capital firm Redpoint Ventures has closed its tenth early-stage fund, securing $650 million. This new fund matches the size of its previous fund raised three years ago. This consistent funding level suggests strong performance and continued confidence from limited partners, especially considering the current market where many VC firms are scaling back investments.

Fund Management and Investment Strategy

The early-stage fund is managed by four managing partners: Alex Bard, Satish Dharmaraj, Annie Kadavy, and Erica Brescia. Brescia joined Redpoint in 2021 after serving as COO at GitHub.

Redpoint's early-stage investments focus on innovative technology companies. Recent investments include:

  • Poolside, an AI coding startup founded by former Redpoint partner and GitHub CTO Jason Warner.
  • Cockroach Labs, a distributed SQL database developer. (Source)
  • Levelpath, a procurement management platform. (Source)

Growth Strategy and Recent Exits

In addition to early-stage investments, Redpoint also employs a growth strategy led by partners Logan Bartlett, Jacob Effron, Elliot Geidt, and Scott Raney. Last year, Redpoint raised a $740 million growth-stage fund, slightly larger than its previous $725 million fund.

Redpoint has seen several successful exits recently, including:

  • Next Insurance, acquired for $2.6 billion. (Source)
  • Tastemade, acquired by Wonder for $90 million. (Source)
  • HashiCorp, acquired by IBM for $6.4 billion. (Source)

Redpoint Ventures did not provide further comment on the new fund.