Deals
VC Firm Initialized Raises $230 Million for Early-Stage Deals
- Existing portfolio includes unicorns Instacart, Coinbase, Ro
- Fifth fund “heavily oversubscribed” despite co-founder exit
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San Francisco venture firm Initialized Capital Management has raised $230 million for its fifth fund, dedicated to investing in early-stage startups.
The vehicle, known as Initialized V, plans to back about 45 startups over the next three years, co-founder Garry Tan said in an interview. Its focus will be seed investing, typically the first time a company raises money and often before it has launched a product or service.