Bi-coastal venture capital firm CRV, who made headlines last year for its bold backlash against then-candidate Donald Trump’s campaign, is seeking capital for a growth equity vehicle at the same time as it raises funds for its next early-stage fund. According to two recent SEC filings, CRV is targeting $450 million for its new main fund CRV Fund XVII and $400 million for its first growth fund.
The investment firm, founded in 1970 and headquartered in Cambridge, Mass., with an additional office in Palo Alto, Calif., focuses on consumer and enterprise technology companies. CRV closed its latest fund, Fund XVI, in 2014 at $393 million. The firm typically makes initial investments between $0.25 million and $15 million, later investing between $3 million to $20 million over the life of a portfolio company. Among CRV’s investments include Zendesk, Udacity, Twitter, SimpliVity and Pebble Smartwatch, which sold to Fitbit in December of 2016.
CRV general partner Brett Rochkind is listed on the two regulatory documents, although he is not yet listed on the firm’s website. Earlier this year, CRV hired Rochkind away from General Atlantic, where he worked for 15 years and served as the co-head of the firm’s Internet and tech investing practice. CRV also recently added Dylan Morris to its team, who is not listed on the filings, as part of a larger focus on its bioengineering practice.
Along with Rochkind, CRV GPs mentioned on the regulatory filings include Izhar Armory, Jon Auerbach, Murat Bicer, Saar Gur, Devdutt Yellurkar and George Zachary.