Emergence Capital, a leading venture capital firm based in San Mateo, California, has recently announced the closing of its seventh fund with a whopping $1 billion in capital commitments. This comes as a significant milestone for the firm, as it marks their first raise in almost four years and brings their total assets under management to over $4 billion.
The firm’s success in raising this new fund is a testament to its strong reputation and track record in the venture capital industry. Since its inception in 2003, Emergence Capital has been dedicated to investing in early-stage enterprise cloud companies, with a focus on SaaS (Software as a Service) and cloud-based businesses. Over the years, they have backed some of the most successful companies in the industry, including Zoom, Salesforce, and Box.
With the rapid growth of the SaaS market, Emergence Capital has seen a surge in demand for its investments. This has enabled the firm to raise its largest fund to date, which is a testament to the trust and confidence that its limited partners have in the firm’s investment strategy and team.
“We are thrilled to announce the closing of our seventh fund, which is our largest fund to date,” said Gordon Ritter, co-founder and general partner at Emergence Capital. “This new fund will allow us to continue our mission of investing in and supporting the next generation of enterprise cloud companies.”
The firm’s seventh fund is a significant step forward in its growth and will enable Emergence Capital to expand its portfolio and support more early-stage companies. It will primarily focus on Series A and B investments, with a particular emphasis on companies that are leveraging emerging technologies such as artificial intelligence, machine learning, and blockchain.
The closing of this new fund comes on the heels of another successful round of fundraising for Emergence Capital earlier this year. In May 2021, the firm closed its sixth early-stage fund with $575 million in capital commitments, bringing its total capital raised in 2021 to nearly $1.6 billion.
“Emergence Capital’s ability to raise two funds in the same year is a testament to the strength of our investment strategy and the trust our limited partners have in us,” said Brian Jacobs, co-founder and general partner at Emergence Capital. “We are excited to continue supporting and partnering with the most innovative and disruptive companies in the enterprise cloud space.”
Over the years, Emergence Capital has built a reputation for being a value-added investor, providing not just capital but also strategic guidance and support to its portfolio companies. This has been a crucial factor in the success of their investments, with many of their portfolio companies going on to become market leaders in their respective industries.
“We are more than just investors, we are partners to our portfolio companies,” said Santi Subotovsky, general partner at Emergence Capital. “We work closely with our founders and management teams to help them scale and succeed in the highly competitive enterprise cloud market.”
The firm’s recent fundraising success and its strong portfolio of companies have positioned Emergence Capital as a top player in the venture capital industry. With its seventh fund, the firm is poised to continue its impressive track record of backing the next generation of enterprise cloud companies and driving innovation in the industry.
In conclusion, Emergence Capital’s closing of its seventh fund with $1 billion in capital commitments is a significant milestone for the firm and a testament to its reputation and success in the venture capital industry. With this new fund, the firm is well-positioned to continue its mission of investing in and supporting the most innovative and disruptive companies in the enterprise cloud space. We can only expect more exciting developments and success stories from Emergence Capital in the years to come.
