DCVC wanted to raise $500M for its first climate fund, but the market had other plans
DCVC’s target for its first climate-focused fund, DCVC Climate Select, has been all over the place and highlights the roller-coaster venture fundraising conditions of the last few years and how LPs aren’t as quick to back new strategies from established managers.
The Silicon Valley VC firm launched the fund in December 2022 with a $500 million target, according to an SEC filing. A year later, it lowered its target to $300 million after its year of fundraising brought in only $157 million of commitments by then, according to a December 2023 SEC filing. Now, a source familiar with the matter tells TechCrunch that things have started to fall into place and $400 million may be a more accurate reflection of where the fund is headed.
https://techcrunch.com/202...
DCVC’s target for its first climate-focused fund, DCVC Climate Select, has been all over the place and highlights the roller-coaster venture fundraising conditions of the last few years and how LPs aren’t as quick to back new strategies from established managers.
The Silicon Valley VC firm launched the fund in December 2022 with a $500 million target, according to an SEC filing. A year later, it lowered its target to $300 million after its year of fundraising brought in only $157 million of commitments by then, according to a December 2023 SEC filing. Now, a source familiar with the matter tells TechCrunch that things have started to fall into place and $400 million may be a more accurate reflection of where the fund is headed.
https://techcrunch.com/202...
DCVC wanted to raise $500M for its first climate fund, but the market had other plans | TechCrunch
The firm dropped its target down to $300 million but recent market demand made them realize they could hit $400 million.
https://techcrunch.com/2024/04/03/dcvc-first-climate-fund-fundraising-venture-capital/
6 months ago
