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Foundation Capital closes Fund VII

Foundation Capital has closed its seventh fund, Foundation Capital Fund VII, at USD282m bringing total capital under management to USD2.7bn over its 17-year history.

 
This new fund will drive the firm forward in support of early-stage companies in the consumer internet, information technology and cleantech sectors.
 
“We are thrilled to announce Foundation Capital’s seventh fund to continue to back the world’s next generation of great entrepreneurs and companies,” says Paul Holland (pictured), general partner, Foundation Capital. “Foundation is the first institutional investor for two-thirds of our companies and will continue to focus on early stage, high-growth opportunities. This strategy is a reflection of our team’s shared history as former entrepreneurs and operating executives, and has helped generate USD5bn in outcomes over the past three years.”
 
The fund will be invested by firm partners Anamitra Banerji, William Elmore, Ashu Garg, Paul Holland, Charles Moldow, Ashmeet Sidana, Steve Vassallo and Warren Weiss. Foundation Capital partners have been members of the founding executive teams of some of the most innovative Silicon Valley startups of the past two decades.
 
“Based on the new, capital-efficient startup landscape as well as Foundation Capital’s founding principle to be highly involved in a company’s early development, Foundation Capital Fund VII is well positioned for the current environment. We plan to invest Fund VII over a three-year investment period, and are targeting innovative, market-defining ventures,” says Holland.

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