Summary List Placement
Mitchell Green, founder and managing partner at Lead Edge Capital, is one of the most successful, under-the-radar venture capitalists in tech. His firm’s portfolio reads like a unicorn’s all-star list: Alibaba, Asana, Bird, Bumble, Compass, Duo Security, Guild Education, Spotify, Toast, Uber and others.
That’s an enviable list of investments for any venture firm. And it has attracted the attention of a growing roster of limited partner investors, Green tells Business Insider.
On Wednesday, LEC announced that it’s raised a new “oversubscribed” $950 million fund from 500 existing and new limited partners. LEC is a growth-stage firm, so the new fund will make investments ranging from $25 million to $150 million per deal. With this fifth fund, LEC’s has grown into $3 billion under management in its 11 years.
“This was certainly a unique year for fundraising,” Green told Business Insider. Fundraising began in May.
“The most unique part of the situation this year is that our entire fundraise was done via Zoom,” he said. “Typically, we would travel extensively, but due to the pandemic, we conducted about 600 Zoom calls over a few-months span. There were a large number of new LPs that committed to our fund having only met us …read more
Source:: Businessinsider – Tech