Redpoint Ventures Raises $650M Early-Stage Fund

San Francisco-based Redpoint Ventures has closed a $650 million fund for early-stage investments. This tenth fund matches the size of its previous fund raised three years ago.

This consistent funding level suggests strong investor confidence in Redpoint's performance, especially given the current market conditions where many venture firms are scaling back investments.

Leadership and Investment Strategy

Redpoint's early-stage strategy is led by managing partners Alex Bard, Satish Dharmaraj, Annie Kadavy, and Erica Brescia. Brescia joined the firm in 2021 after serving as COO of GitHub.

Recent investments from the early-stage team include:

  • AI coding startup Poolside, founded by former Redpoint partner and GitHub CTO Jason Warner
  • Distributed SQL database developer Cockroach Labs (link)
  • Procurement management platform Levelpath (link)

Growth Strategy and Recent Exits

Redpoint also manages a growth-stage investment strategy, led by partners Logan Barlett, Jacob Effron, Elliot Geidt, and Scott Raney. Last year, this team raised a $740 million growth fund.

The firm has seen several successful exits recently, including:

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

Redpoint Ventures did not respond to a request for comment.