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Greycroft
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Greycroft LP is an American venture capital firm with over $3 billion in assets under management.
Key Information
Notable investments by the firm have included Bird Global, Bumble, HuffPost, Goop, Scopely, The RealReal, and Venmo.[1][2][3] Greycroft was founded in 2006 by Alan Patricof, Dana Settle, and Ian Sigalow.[4] The firm is headquartered in New York City, Los Angeles, and the San Francisco Bay Area.[5]
History
[edit]Greycroft was co-founded in 2006 by venture capitalist Alan Patricof,[6] who previously founded Apax Partners, a European private equity group with $50 billion under management.[7][8]
Greycroft raised its first fund (Greycroft I) with $75 million of investor commitments in 2006,[9] Greycroft II with $131 million in 2010,[9] Greycroft III with $175 million fund in 2015,[10] Greycroft IV with $200 million in 2018,[11] Greycroft V with $250 million in 2018,[12] and Greycroft VI with $310 million in 2020.[13] In 2014, Greycroft raised its first growth fund, Greycroft Growth, with $200 million.[14]
Greycroft raised Greycroft Growth II fund with $250 million in 2017.[15] Greycroft raised Greycroft Growth III, a $368 million growth fund in 2020.[16][17] The firm raised over $1B in new funds in 2023 for Greycroft Partners VII and Greycroft Growth IV.[18]
Its recent investments include Stability AI,[19] Contextual AI,[20] and Reken.[21]
Investments
[edit]Greycroft has invested in over 300 companies located in 45 cities internationally, with the majority of these companies headquartered in the United States.[22]
The firm's notable investments include:
- Braintree, acquired by PayPal for $800 million in 2013[23]
- Buddy Media, acquired by Salesforce.com for $800 million in 2012[24]
- Candid, raised a $63.4 million Series B round in 2019[25]
- Convoz, a startup founded by Chamillionaire.[26]
- Maker Studios, acquired by Disney for $950 million in 2014[27]
- Plated.com, acquired by Albertsons for $200 million in 2017[28][29]
- Munchery, ceased operations in 2019[30]
- Osmosis, raised a $4 million Series A round in 2019[31]
- Selerio, acquired by Streem in 2019[32]
- Trunk Club, acquired by Nordstrom for $350 million in 2014[33]
- Venmo, acquired by PayPal for $800 million in 2016[34]
- Boxed, raised $6.5M in 2014[35]
- Scopely, raised $200M Series D round in 2019[36]
- Yeahka, IPO executed on Hong Kong Stock Exchange in 2020[37]
- BrightHealth, raised $200M Series C in 2018[38]
- Anine Bing, raised $15M Series A in 2018[39]
- App Annie, raised $63M Series E in 2016[40]
- Thrive Market, raised $111M Series B in 2016[41]
- The RealReal, whose IPO was executed in June 2019 and listed to Nasdaq[42]
- Flutterwave, raised $35M Series B in 2019[43]
- Acorns, raised $105M Series E round in 2019[44]
- Icertis, became a "unicorn" and raised a $115M Series E in 2019[45]
- Public.com, raised $15M Series B in 2020[46]
- LEX Markets, raised $4M Seed in 2019[47]
- Axios, raised $20M Series B in 2017[48]
- Huffington Post, sold to AOL for $315M in 2011[49]
- Mapped, raised $6.5M Seed II in 2021[50]
- Free Range Games, raised undisclosed amount Series A in 2015[citation needed]
- AmplifAI raised $18.5 million Series A in 2021 [51]
- Leena AI, raised $30 million in a Series B funding round in 2021
- Goop, raised a $50 million Series C in 2018 [52]
References
[edit]- ^ "43 NYC Venture Capital Firms You Should Know". Built in NYC. Retrieved August 8, 2020.
- ^ "17 Los Angeles venture capital firms you should know". Built in LA. Retrieved August 8, 2020.
- ^ "Top 10 venture capital firms". FinTech. Archived from the original on January 21, 2021. Retrieved August 8, 2020.
- ^ "An 82-Year-Old VC Makes a Splash With Young Startups". Forbes. Retrieved August 8, 2020.
- ^ Noto, Anthony (July 18, 2018). "Greycroft: 'Our most successful investments weren't in NYC or LA'". New York Business Journal. Retrieved June 20, 2020.
- ^ Rublin, Lauren R. (September 7, 2023). "A Venture Capital Pioneer Sizes Up Today's Market". Barron's. Retrieved September 5, 2024.
- ^ "Patricof Goes Back To Early-Stage Investing". Reuters Buyouts. March 16, 2006.[permanent dead link]
- ^ "Legendary media investor Alan Patricof's new Web 2.0 life". Fortune. September 11, 2007.
- ^ a b "Early-Stage VC Greycroft Closes $200M Growth Fund". The Wall Street Journal. June 19, 2014.
- ^ Boslet, Mark (November 30, 2015). "Greycroft raises $200 mln fourth fund". PE Hub Network.
- ^ "Greycroft raises $250M for its fifth early-stage fund". TechCrunch. July 18, 2018. Retrieved April 30, 2020.
- ^ Ha, Anthony (July 18, 2018). "Greycroft raises $250M for its fifth early-stage fund". TechCrunch. Retrieved October 13, 2020.
- ^ "TechCrunch". TechCrunch. October 7, 2020. Retrieved October 7, 2020.
- ^ Chernova, Yuliya (June 19, 2014). "Early-Stage VC Greycroft Closes $200M Growth Fund". The Wall Street Journal. Retrieved July 20, 2020.
- ^ Roof, Katie (February 9, 2017). "Greycroft Announces $250 Million Growth Fund". TechCrunch. Retrieved July 20, 2020.
- ^ Ellingson, Annlee (October 7, 2020). "Greycroft raises $678 million for two new funds". L.A. Biz. Retrieved October 9, 2020.
- ^ Clark, Kate (October 6, 2020). "Greycroft Announces $678 Million in New Funds". The Information. Retrieved October 15, 2020.
- ^ Wiggers, Kyle (April 26, 2023). "Greycroft closes on over $1 billion across new funds". TechCrunch. Retrieved October 25, 2024.
- ^ Wiggers, Kyle (June 25, 2024). "Stability AI lands a lifeline from Sean Parker, Greycroft". TechCrunch. Retrieved October 25, 2024.
- ^ Fink, Charlie. "Contextual AI Raises $80 Million, Judge Calls Google A Monopolist, Bytedance Intros Jimeng Text-To-Video AI". Forbes. Retrieved October 25, 2024.
- ^ bacohido (January 31, 2024). "News alert: Reken raises $10M from Greycroft to protect against generative AI-enabled fraud". Security Boulevard. Retrieved October 25, 2024.
- ^ "Our Companies". Greycroft Partners. Retrieved June 16, 2017.
- ^ "EBay's PayPal Acquires Payments Gateway Braintree For $800M In Cash". TechCrunch. September 26, 2013.
- ^ "Salesforce in talks to buy Buddy Media for over $800M, report says". VentureBeat. May 29, 2012.
- ^ "Investors continue to pour money into dental startups". TechCrunch. April 9, 2019. Retrieved April 9, 2019.
- ^ "Chamillionaire Presents New App in Convoz". February 12, 2018.
- ^ "Disney to Buy Maker Studios in Deal Worth Up to $950 Million". Time. March 24, 2014.
- ^ Buhr, Sarah (September 20, 2017). "Albertsons snaps up meal kit startup Plated for $200 million". TechCrunch. Retrieved April 20, 2020.
- ^ "Investing in the Grocery Industry's Future: A Venture Capitalist's Perspective". Winsight Grocery Business. April 6, 2020. Retrieved April 28, 2020.
- ^ "After raising $125M, Munchery fails to deliver". TechCrunch. January 22, 2019. Retrieved January 22, 2019.
- ^ "Providing supplemental educational videos for healthcare online nets Osmosis $4 million". TechCrunch. June 11, 2019. Retrieved June 11, 2019.
- ^ "Streem buys Selerio in effort to boost its AR teleconferencing tech". TechCrunch. May 23, 2019. Retrieved May 23, 2019.
- ^ "Nordstrom Will Pay $350 Million for Trunk Club". Recode. July 31, 2014.
- ^ Rao, Leena (July 13, 2016). "PayPal Is Okay If Millennials Don't Know It Owns Venmo". Fortune. Retrieved July 28, 2020.
- ^ Slade, Hollie (May 13, 2014). "'Costco Of Mobile Apps' Boxed Raises $6.5M To Take On Amazon Prime". Forbes. Retrieved July 28, 2020.
- ^ O'Malley, Gavin (October 29, 2019). "Scopely Raises $200M Earmarked For M&A, Game Expansion". MediaPost. Retrieved July 28, 2020.
- ^ Zhong, Carol (November 20, 2019). "Tencent-Backed Yeahka to Seek $300 Million in Hong Kong IPO". Bloomberg.
- ^ Clark, Kate (November 29, 2018). "Insurance startup Bright Health raises $200M at ~$950M valuation". TechCrunch. Retrieved November 29, 2018.
- ^ Chitrakorn, Kati (September 6, 2018). "How Anine Bing Is Avoiding the Nasty Gal Trap". Business Of Fashion. Retrieved July 28, 2020.
- ^ Loizos, Connie (January 14, 2016). "Analytics Firm App Annie Raises $63 Million in Series E Funding". TechCrunch. Retrieved July 28, 2020.
- ^ Roof, Katie (June 27, 2016). "Thrive Market raises $111 million for its online organic grocery store". TechCrunch. Retrieved July 28, 2020.
- ^ Savitz, Eric J. (June 26, 2019). "The Next Big IPO Is Trying to Be Tiffany, Amazon, and a Pawn Shop Rolled Into One". Barron's. Retrieved July 28, 2020.
- ^ Bright, Jake (January 21, 2020). "African fintech firm Flutterwave raises $35M, partners with Worldpay". TechCrunch. Retrieved July 28, 2020.
- ^ Rooney, Kate (January 28, 2019). "Fintech start-up Acorns valued at $860 million after latest funding round". CNBC. Retrieved July 28, 2020.
- ^ Singh, Manish (July 17, 2019). "Contract management startup Icertis becomes unicorn with $115M new round". TechCrunch. Retrieved July 28, 2020.
- ^ Spangler, Todd (March 2, 2020). "Social-Investing App Startup Public Raises $15 Million From Will Smith, JJ Watt, Sophia Amoruso and Others". Variety. Retrieved July 28, 2020.
- ^ Baer, Justin (September 29, 2019). "Now You Can Build Your Own Real-Estate Empire, $100 at a Time". The Wall Street Journal. Retrieved July 28, 2020.
- ^ Mullin, Benjamin (November 17, 2020). "Axios Raises $20 Million to Fund Newsroom Expansion". The Wall Street Journal. Retrieved July 28, 2020.
- ^ Adams, Richard (February 7, 2011). "Huffington Post sold to AOL for $315m". The Guardian. Retrieved July 28, 2020.
- ^ "Mapped raises $6.5M to build API for the 'digital twin of data infrastructure'". VentureBeat. June 29, 2021. Retrieved February 24, 2022.
- ^ Titlow, John Paul (October 12, 2021). "AmplifAI's data-powered people enablement platform gets a $18.5M investment". VentureBeat. Retrieved December 11, 2024.
- ^ Berg, Madeline. "Exclusive: Gwyneth Paltrow's Lifestyle Company Goop Raises $50 Million Series C". Forbes. Retrieved November 18, 2025.
Greycroft
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Founding and Early Development
Greycroft was founded in 2006 by Alan Patricof, Dana Settle, and Ian Sigalow as a venture capital firm targeting early-stage technology investments.[3][8] Alan Patricof, a veteran investor who previously founded and chaired Apax Partners (formerly Patricof & Co. Ventures), brought extensive experience in private equity and venture capital to the new firm after leaving Apax to focus on digital opportunities.[9][10] The firm launched with an initial fund of $75 million, aimed at supporting emerging companies in the evolving internet landscape.[3][8] The firm established its initial office in New York City, positioning itself at the center of the city's growing tech ecosystem during the post-dot-com recovery period.[11] Greycroft's early focus centered on digital media and internet startups, capitalizing on the resurgence of online platforms and content after the 2000-2002 bust.[12] This strategy reflected Patricof's vision for backing innovative media ventures outside traditional Silicon Valley hubs.[10] In its first years, Greycroft made seed and early-stage investments, including leading $5 million rounds in The Huffington Post in 2006 and 2007.[13] The firm navigated the 2008 financial crisis by maintaining its investment pace in resilient digital sectors, avoiding the broader VC slowdown through disciplined deal selection and a focus on scalable online businesses.[12] From a founding team of just three partners, Greycroft began modest expansion by 2010, adding operational support while preserving a lean structure to foster close founder relationships.[11] This period solidified the firm's reputation for hands-on guidance in early development.[14]Fundraisings and Growth Milestones
Greycroft's growth trajectory accelerated post-2010 through a series of successful fundraises that expanded its capacity to support early- and growth-stage investments. In 2010, the firm closed Greycroft II at $131 million, marking a significant increase from its debut fund and enabling broader deployment in internet and mobile sectors.[11] This was followed by Greycroft III in 2012, raising $175 million to maintain a disciplined approach to early-stage deals while prioritizing high-conviction opportunities.[15] The firm introduced dedicated growth vehicles to complement its core funds, starting with Greycroft Growth I in 2014 at $200 million, which targeted expansion-stage companies requiring larger follow-on capital.[16] Subsequent raises included Greycroft IV in 2015 ($200 million) and Greycroft Growth II in 2017 ($250 million), pushing assets under management past $1 billion by late 2017.[17][18] Greycroft V closed in 2018 at $250 million, continuing the firm's emphasis on seed and Series A investments in B2B and B2C technologies.[19] Amid the 2020 economic disruptions from the COVID-19 pandemic, Greycroft demonstrated resilience by closing Greycroft VI at $310 million and Greycroft Growth III at $368 million, totaling over $678 million across the two funds and bringing cumulative capital raised to more than $2 billion.[20] These raises supported sustained investment activity, including in AI-driven solutions and sustainability-focused ventures, as the firm adapted to shifting market dynamics without curtailing deal flow.[21] By 2023, Greycroft achieved a major milestone with over $980 million closed across Greycroft Partners VII and Greycroft Growth IV, elevating total assets under management beyond $3 billion.[22] This period also saw operational expansions, including the establishment of a San Francisco office in 2023 to enhance West Coast presence alongside existing locations in New York and Los Angeles.[23] The firm's team grew to over 60 members by 2025, reflecting scaled operations to manage an expanded portfolio and navigate evolving sectors like AI and sustainability.[7]Investment Strategy
Sector Focus and Approach
Greycroft's investment focus centers on key sectors including software, artificial intelligence (AI), sustainability solutions, consumer brands, and enterprise applications. In software and AI, the firm targets innovations such as AI infrastructure, foundational models, and intelligent applications that enhance enterprise and consumer experiences. Sustainability investments emphasize next-generation technologies aimed at reducing environmental impact, while consumer brands span categories like beauty, personal care, food, beverage, and pet products. Enterprise applications form another pillar, supporting tools that drive operational efficiency across industries.[4] The firm's approach prioritizes partnerships with "courageous founders" who are transforming established sectors through bold innovation. Greycroft employs a thesis-driven strategy, balancing focused themes—such as the evolution of internet and mobile technologies—with flexibility to adapt to emerging opportunities. This includes supporting startups from ideation in early stages to scaling in growth phases, providing more than capital through enduring relationships and operational guidance. For instance, the firm often takes board seats to foster strategic development, as evidenced by its team serving on the boards of eight portfolio companies.[4][24][25][7] Unique strategies underscore long-term collaboration and thematic investments, particularly in areas like AI ethics and sustainable consumer technologies following 2020. Greycroft has deepened its commitment to AI, refocusing its core strategy around AI startups in 2023 to capitalize on the technology's decade-long dominance in software. In sustainable consumer tech, the firm backs initiatives that integrate AI for personalization and efficiency while prioritizing authenticity and community engagement. This is highlighted in the 2025 Greycroft Consumer Brands Summit, which emphasized scaling trust in emotionally driven categories and using AI to enhance brand integrity without compromising human judgment.[26][27] Over time, Greycroft's focus has evolved from a concentration on digital media and consumer internet companies in the 2000s to a broader embrace of technology and consumer sectors in the 2020s. Early investments targeted media startups amid the rise of online platforms, reflecting the era's digital shift. By the 2020s, the firm expanded into AI, sustainability, and diversified consumer brands, aligning with global trends in technological disruption and environmental responsibility. The 2025 Consumer Brands Summit further illustrates this progression, spotlighting innovations in sustainable practices and AI-driven consumer experiences as key growth areas.[15][28][27]Stages, Geography, and Deal Characteristics
Greycroft primarily targets early-stage investments, including seed and Series A rounds, while also supporting growth-stage opportunities from Series B onward through dedicated funds. The firm maintains separate vehicles for these phases, such as its 2023 fundraising of over $980 million across an early-stage fund and a growth fund, enabling tailored support for startups at different maturity levels. Average check sizes vary by stage, typically ranging from $5 million for seed investments to $11.7 million for Series A and up to $26.5 million for Series B rounds, with follow-on commitments extending total exposure per company to $10 million in early stages and $35 million in later ones.[29][7][30] Geographically, Greycroft's portfolio is predominantly U.S.-centric, with over 80% of its 469 portfolio companies as of November 2025 located in the United States, spanning more than 40 cities including New York, Los Angeles, and San Francisco. The firm operates offices in New York (headquarters at 292 Madison Avenue), Los Angeles (821 Traction Ave, 2nd Floor), San Francisco (345 California Street), and Menlo Park (1300 El Camino Real) to facilitate proximity to key tech hubs. Post-2020, Greycroft has expanded its international footprint modestly, with investments in Europe (e.g., 16 in the United Kingdom) and Asia (e.g., in China and other markets), alongside limited exposure to regions like Israel and Australia, reflecting a strategic diversification beyond its core domestic focus.[7][4][30][5] In terms of deal characteristics, Greycroft typically deploys capital into 10-20 investments per fund, emphasizing scalable technology ventures in B2B and B2C models that demonstrate strong growth potential. The firm frequently participates in syndicated rounds alongside co-investors such as Accel, Felicis Ventures, and Headline, allowing for shared risk and broader networks without mandating lead positions or board seats in every deal. With cumulative investments in 469 portfolio companies by late 2025, Greycroft prioritizes opportunities that align with high-impact, transformative technologies, often committing initial checks between $100,000 and $30 million depending on the opportunity's scale.[7][30] Greycroft manages risk through broad portfolio diversification, spreading investments across over 45 cities worldwide and 34 sectors to mitigate sector-specific or regional downturns. This approach, combined with a focus on founder-led teams and scalable business models, supports long-term value creation while maintaining flexibility in deal structures to preserve entrepreneurial control.[5][7]Portfolio
Notable Investments
Greycroft's portfolio encompasses over 300 companies across software, consumer brands, and sustainability sectors, with investments spanning early-stage seed rounds to growth-stage opportunities.[4] As of November 2025, the firm has made more than 400 investments since its inception, including 14 new additions in the preceding 12 months, reflecting its focus on transformative technologies and brands.[5] These investments highlight Greycroft's strategy of backing innovative founders in high-impact areas, with representative examples demonstrating sector-wide influence without exhaustive listings.Fintech and Payments
In the fintech sector, Greycroft made an early-stage investment in Venmo, a peer-to-peer payment platform that revolutionized mobile money transfers by enabling seamless social transactions.[31] Launched in 2009, Venmo's integration of payments with social networking set a benchmark for user-friendly financial tools, influencing the broader digital payments landscape. The company remains a key player in consumer finance, now operating as a subsidiary of PayPal with millions of active users.[32]Social and Dating Platforms
Greycroft invested in Bumble during its early growth phase around 2014, supporting the women-first dating and social networking app that empowers users through features like message initiation controls.[33] With an initial commitment contributing to its seed and subsequent rounds, Bumble disrupted the dating industry by prioritizing safety and equality, growing into a global platform with over 50 million users and expanding into professional networking via Bumble Bizz. As a unicorn and publicly traded entity, it continues to innovate in social connections.[34]Luxury Resale and E-Commerce
The RealReal, a leader in authenticated luxury resale, received early backing from Greycroft in its 2013 Series B round of $14 million, followed by participation in a $40 million extension in 2016.[35][36] This investment fueled the platform's expansion into sustainable fashion, authenticating and reselling high-end goods to promote circular economy practices in retail. Valued as a unicorn at IPO in 2019, The RealReal operates as a public company, handling millions of transactions annually and influencing the $50 billion luxury resale market.[32]AI and Machine Learning
Greycroft has prioritized artificial intelligence, notably leading the $80 million Series A for Contextual AI in August 2024, building on a prior $20 million seed round.[37] Contextual AI develops production-grade large language models tailored for enterprise retrieval-augmented generation (RAG), enhancing AI accuracy in business applications like compliance and customer service. As a private company, it addresses key challenges in scalable AI deployment, partnering with major cloud providers.[38] In 2024, Greycroft invested in Stability AI during its funding rounds, supporting the creator of open-source models like Stable Diffusion that democratize generative AI for images and text.[39] Stability AI's tools have accelerated AI adoption in creative industries, with billions of inferences run globally, though it remains a private entity navigating rapid evolution in open-weight models. In January 2024, Greycroft led Reken's $10 million seed round, backing an AI-driven cybersecurity firm combating generative AI-enabled fraud through advanced detection algorithms.[40] Reken, founded by ex-Google executives, focuses on protecting financial and digital identities, positioning it as an emerging player in AI security.[41]Mobility and Sustainability
Greycroft participated in Bird's $300 million Series C round in 2018, aiding the electric scooter-sharing service's mission to reduce urban car dependency and emissions.[42] Bird pioneered micromobility in cities worldwide, deploying fleets that have facilitated over a billion rides and lowered carbon footprints in short-distance travel. As a public company, it continues to innovate in sustainable transport solutions.[32]Wellness and Consumer Brands
In the consumer wellness space, Greycroft invested in Goop in 2016 as part of a $15 million round, supporting Gwyneth Paltrow's lifestyle brand focused on health, beauty, and e-commerce.[32] Goop has shaped the direct-to-consumer wellness market by curating products and content around holistic living, achieving unicorn status and expanding into retail and media. The private company now generates significant revenue through its subscription model and product lines.[43]Exits and Performance Highlights
Greycroft has achieved several high-profile exits through acquisitions and IPOs, providing significant returns to its limited partners. One of the firm's earliest successes was its investment in Venmo in 2011, which was acquired by Braintree in 2012 and subsequently saw Braintree purchased by PayPal for $800 million in 2013. Similarly, Greycroft's 2012 investment in Braintree directly led to liquidity via the same $800 million PayPal acquisition later that year. In the media sector, the firm's early backing of HuffPost culminated in its $315 million acquisition by AOL in 2011, with additional value realized when Verizon acquired AOL for $4.4 billion in 2015. More recently, Greycroft's investment in mobile gaming company Scopely resulted in a landmark $4.9 billion acquisition by Savvy Games Group in 2023, marking one of the largest exits in the entertainment industry.| Exit | Year | Acquirer | Value | Source |
|---|---|---|---|---|
| Venmo (via Braintree) | 2013 | PayPal | $800M | Greycroft Portfolio[44] |
| Braintree | 2013 | PayPal | $800M | Forbes[45] |
| HuffPost | 2011 | AOL | $315M | The Guardian[46] Forbes[47] (additional value as part of 2015 Verizon acquisition of AOL for $4.4B) |
| Scopely | 2023 | Savvy Games Group | $4.9B | Greycroft Perspectives[48] Variety[49] |
