💰Reach Capital Closes $265M Fund V for AI Applications
TL;DR
Reach Capital closed an oversubscribed $265 million Fund V on August 18, raised in under six months, to back AI applications in learning, health and work. Checks run $1M to $10M from pre-seed through Series A across roughly 50 companies over three years.
Reach Capital closed an oversubscribed $265 million Fund V on August 18, raised in under six months, to back AI applications in learning, health and work. Checks run $1M to $10M from pre-seed through Series A across roughly 50 companies over three years.
Key Points
$265M Fund V, up from $215M for Fund IV in 2023 and $165M for Fund III in 2021
Closed in under six months; no Fund V investments deployed yet
LPs include Capricorn, LA Fire and Police Pensions, the LEGO Foundation and College Board
Prior portfolio includes Replit, ClassDojo and Coral Care
PitchBook and NVCA data show established firms took over 90% of the ~$62B raised by US VC funds through May
Why It Matters
In a market where 90% of LP dollars go to brand-name megafunds, a sub-$300M thesis fund closing in six months tells founders where the barbell's other end still has room.
Quick Facts
Frequently Asked Questions
Why does this matter?
In a market where 90% of LP dollars go to brand-name megafunds, a sub-$300M thesis fund closing in six months tells founders where the barbell's other end still has room.
What happened?
Reach Capital closed an oversubscribed $265 million Fund V on August 18, raised in under six months, to back AI applications in learning, health and work. Checks run $1M to $10M from pre-seed through Series A across roughly 50 companies over three years.
Comments
Be the first to comment
Enjoyed this article?
Get it daily. 7am. Free. Reads in 5 minutes.
Join 3,303 builders reading daily.