Redpoint Ventures is closing Redpoint V, their second $400M fund in three years. The firm says it has had 14 exits over the last two years that have hit $10B in aggregate market value.
The fund will be used for early stage funding of startups, something that has been the meat and potatoes of the Redpoint funds so far. The total managed across all funds now includes over $3.3B and investments in over 350 tech companies, including Path, Electric Imp, Pure Storage, Zendesk, Stripe, Heroku, Sonos and Kabam.
Redpoint says that the new fund is out to look for companies in mobile, cloud and social areas. Specifically, it says it’s interested in companies focusing on this area:
- Next generation entertainment technologies and delivery systems
- Big data infrastructure and applications
- Enterprise class cloud
- Mobile infrastructure companies and apps
Heroku founder James Lindenbaum says that Redpoint is “one of the few firms who understand the unique needs of cloud infrastructure and enterprise technology companies.”
“…with the Redpoint V fund our founding investment principles will remain the same as ever,” says Redpoint partner Geoff Yang, “a focus on being active investors in great entrepreneurs who are driven to create companies that change the technology landscape.”
For more on Redpoint, read our interview with Redpoint e.ventures’ Yann de Vries on their investment strategies in Brazil.
Image Credit: Dan Kitwood/Staff