Initialized Capital Raises $700 Million, Launches 2 New Funds
The VC firm’s portfolio companies include Coinbase and Instacart.
Garry Tan
Photographer: Pedro Fiúza/NurPhoto/Getty Images
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San Francisco-based Initialized Capital Management has raised $700 million to invest in startups, a substantial sum for the early-stage venture firm founded just a decade ago.
Initialized, which also raised $230 million last year, has invested in companies including Cruise, the autonomous car startup bought by General Motors Co., and Instacart Inc., the grocery delivery startup most recently valued at $39 billion. Its standout deal, though, was an investment in Coinbase Global Inc., the cryptocurrency exchange and one of the firm’s first investments.