As the technology industry grows more optimistic about the prospect of a thaw in startup exits, one startup appears to be building an arsenal of dry powder.
San Francisco-based Quiet Capital has raised $377 million for its third fund, a source reported. filing It was filed with the Securities and Exchange Commission last week. Quiet Capital founder Lee Linden did not respond to a request for comment, and the filing did not include a phone number.
True to its name, Quiet Capital has kept a low profile, but since its founding in 2017, it has been an early-stage technology backer, including early investments in companies such as HR platform Rippling and celebrity learning platform MasterClass. I have been active.
Linden is a former colleague at venture giant Kleiner Perkins and the founder of Karma, a gift-giving application. obtained He worked as the head of commerce for a social media platform. Quiet Capital invests in a variety of sectors including AI, cryptocurrencies, and healthcare.
venture rebound
After a record-breaking 2021, global venture funding has been steadily declining in recent years, with 2024 expected to be set This will be one of the worst years for the sector in a decade. Profits are decreasing, and last year, venture companies return The amount paid to investors is the lowest since 2011, according to data provider Pitchbook.
Still, there are glimmers of hope, with a string of crypto companies like Accolade and Hack VC raising new funding, and the still burgeoning AI field attracting billions of dollars in VC. There is also light.
Quiet Capital’s new funding, along with Forerunner Ventures’, will be the largest early-stage funding of the year. announcement A $500 million fund was established earlier this month.
Quiet Capital has previously raised $377,992,500 for the fund, named Quiet Venture III, which began raising in November 2022, according to SEC filings. It is unclear whether Quiet Capital continues to finance this vehicle.
The Linden-led company last raised funding in 2021 and filed with the SEC. list up About $479 million was raised toward the $500 million cap.
Last week, the quiet capital guided A $12 million seed round for Mach9, an AI-powered mapping software company. Other recent investments include: standard bota robotic automation company, and bot companyanother robotics startup founded by Cruise’s former CEO Kyle Vogt.
