Home News NextView Ventures closes its fourth fund with $89 million – TechCrunch

NextView Ventures closes its fourth fund with $89 million – TechCrunch

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NextView Ventures, a Boston-based enterprise capital fund, has raised an $89.6 million fund, in keeping with SEC filings. The agency’s fourth fund, its largest so far, is oversubscribed, with early documents indicating a $70 million objective. The NextView Ventures staff didn’t instantly reply to request for remark.

NextView Ventures was launched in 2010 by Rob Go, a former associate at Spark Capital; Dave Beisel, who clocked time at Venrock and Masthead Enterprise Companions; and Lee Hower, a former investor at Level Judith Capital. Melody Koh joined as a associate three years in the past, and most lately, the fund introduced on former journalist Leah Fessler as an investor.

The fund, which has workplaces in New York in addition to Boston, invests in shopper and software-as-a-service enterprise startups on the pre-seed and seed stage. Its portfolio contains Ellevest, an investing platform for ladies; Grove Collaborative, a sustainable items subscription platform; and ThredUp, which has confidentially filed for IPO. In April, NextView launched a digital accelerator for startups to construct a extra sturdy pipeline for deal circulation. The agency invested $200,000 for an 8% fairness stake in various pre-seed and seed startups targeted on “the everyday economy.

Regardless of the pandemic, Boston’s startup scene has continued to draw record numbers in enterprise capital quantity. In truth, in keeping with PitchBook information, Boston-area startups raised extra personal capital throughout summer time 2020 than they did in summer time 2019, suggesting that the pandemic has been a boon to startups in combination.

Extra lately, my colleague Alex Wilhelm and I wrote about how the Boston area is growing its demographic footprint in venture capital. In Q3 2019, New England drove 9.3% of U.S. enterprise offers, and 10.3% of U.S. enterprise {dollars}. In Q3 2020, these numbers have been 9.3% of U.S. enterprise offers, and 12.7% of U.S. enterprise {dollars}. The share change is notable, particularly amid unstable instances.

NextView’s new fund is yet one more sign of town’s capability to draw institutional funding. Its earlier fund was raised in 2017 at a $50 million close.