The Risk firm CRV raises $ 750 million, reducing the size after returning capital to investors

CRV has assured $ 750 million for the twentieth flagship of the risk firm of 55 years, TI announced on Friday.

The new background is smaller than The initial stage of $ 1 billion CRV closed in the fall of 2022. At that time, the firm also announced a select fund of $ 500 million in second place, a capital group to support the rounds in the late stage of the existing portfolio companies.

It is not surprising that CRV is not raising a late stage as part of its new fundraising. Last year, the firm told the New York Times that it returned $ 275 million of its select fund of $ 500 million to investors. The firm explained that it would not raise another vehicle in the late stage because the follow -up rounds for many of its companies would reduce their general yields.

CRV limited partners were eager to support the company’s smallest fund, the firm said. He raised his full fund of $ 750 million in just four weeks, with the demand for twice that amount, CRV wrote.

The last fund will be used to invest in seed and series A startups and will focus on supporting consumers and devotool companies.

CRV is known for leading the financing of Dordash seeds and the rounds of the series A for both Mercury and to Vercel, a cloud platform for web developers, which was last valued at $ 3.25 billion.

Since its foundation in 1970, CRV has supported more than 750 new companies, with 80 of them finally public.

The firm’s latest investments include Coderabbit, a startup for the review of the AI and Outtake code, a company that uses cybersecurity.