Redpoint Ventures Seeks $400 for its Third ‘Omega’ Fund

Silicon Valley venture firm Redpoint Ventures is raising $400 million for its Omega III fund, according to an SEC filing. The eighteen-year-old firm makes investments in startups across seed, early and growth-stage phases.

Become a Subscriber

Please purchase a subscription to continue reading this article.

Subscribe Now

Based in Menlo Park, Calif., Redpoint has raised a total of nearly $4 billion across multiple funds as it partners with visionary founders in efforts to carve out new markets and redefine existing ones. The firm also has offices in San Francisco, Los Angeles, Sao Paulo, Beijing, and Shanghai.

Redpoint has invested in over 465 companies, including 140 IPOs and M&As. Notable investments include edtech player 2U, Wall Street’s favorite streaming service Netflix, $3.4 billion data flash storage company PureStorage, cloud communications platform Twilio, now-public customer service software provider Zendesk and multi-language cloud application Heroku.

In August, the VC firm led a $20 million Series B funding round for three-year-old startup Gigster, a website which matches freelance developers and designers with users who want websites created. In May, Redpoint led a $27 million Series B funding round in CockroachDB, a cloud-native open source SQL database.

In October 2016, Redpoint raised $180 million for ACE Redpoint Ventures China I, L.P. Over the years, while other venture firms have significantly increased the size of their funds, Redpoint continues to close a majority of its funds at the $400 million mark. Its other most recent fund, Redpoint Ventures VI, which focuses on seed, Series A and Series B rounds in consumer and enterprise companies, closed in May 2015, following Redpoint Ventures V in January 2013, Redpoint IV in February 2010 and Redpoint III in 2006. Redpoint’s Omega II also raised $400 million in November 2011 to invest in “early growth” companies.