SOSV, an accelerator-based venture capital firm, has closed SOSV III, its first fund open to external investors, at USD150 million.
With more than 150 start-ups backed annually through its accelerators, SOSV is the world’s third largest seed investor by volume.
SOSV’s accelerator model takes a small stake in start-ups and provides a framework and community where start-ups get further and faster than they could on their own.
“Since 2010, we’ve provided follow-on funding to those companies who develop significant traction and financing support,” says Sean O’Sullivan, SOSV managing partner. “It’s a proven model…giving us both extraordinary quality and incredible deal flow.”
The 65 investors in SOSV III range from formerly-backed founders and tech executives to major family offices, private foundations and multinational corporations. LPs include the IFC of the World Bank, the largest global development institution focused on the private sector in emerging markets; the Lemelson Foundation, focused on improving lives through invention; The Russell Family Foundation, a philanthropic enterprise advancing sustainability and leadership in the Pacific Northwest; and Austin Hearst.
SOSV is led by O’Sullivan alongside six investment partners, all of whom come from operating backgrounds building multi-million dollar start-ups, including three IPOs.
Example portfolio companies include MakeBlock, Clara Foods, NextThingCo, FormLabs, Breather, GetAround, Greenblender, Memphis Meats, Harmonix and BitMEX.
