PE Tech Report


Like this article?

Sign up to our free newsletter

Rally Ventures closes oversubscribed Fund IV at USD250m

Rally Ventures, a specialist in business technology investing, has closed Rally IV, a USD250 million fund which will invest in Seed and Series A companies bringing innovative approaches to enterprise technology. Areas of focus will include cloud infrastructure, fintech, SaaS+ and security.

Rally Ventures had oversubscribed demand for this fourth fund, closing well above target, and bringing the firm’s total committed capital raised since inception to nearly USD600 million. The firm closed its last fund of USD150 million in 2018.
“We are committed to investing in the fastest-rising business technology entrepreneurs, and the close of Rally IV allows us to support founders who are changing the way the world works,” says Jeff Hinck, co-founder, partner, Rally Ventures. “We’re proud to have the continued support of our existing limited partners and thrilled to be adding new investors with a long-term commitment to venture capital, including a high-caliber group of endowments, foundations, family offices and corporate investors.”
Rally Ventures was founded in 2012 by Charles Beeler and Hinck, who have co-invested together for over 20 years, producing top quartile returns in every fund in which they’ve been partners during their careers. Rally Ventures welcomed its third partner, Justin Kaufenberg, in late 2019. Prior to joining the firm, he was a co-founder and the CEO of SportsEngine. Rally Ventures was a lead investor in SportsEngine and the firm worked directly with Kaufenberg as he built the company from an early-stage opportunity to the largest sports-focused SaaS and payments company in the world. The addition of Kaufenberg expanded the firm’s expertise in fintech and SaaS+, and his experience as an operator will be a critical asset that will benefit Rally Ventures and its portfolio companies.
The team also includes a dynamic group of more than 100 Rally Tech Partners—visionaries, technologists and executives with deep sector expertise—who help source, evaluate and support early-stage companies. These Rally Tech Partners have themselves invested more than USD100 million into Rally Ventures funds thus far.
In under a decade, Rally Ventures has invested in over 50 companies and built a nationwide portfolio of sector-spanning investments, with consistently strong performance across funds. Notable investments include Braze, CrowdStreet, Total Expert, Bugcrowd, Carbon Black (IPO and subsequently acquired by VMware), Coupa (IPO), SportsEngine (acquired by NBC Sports), Twistlock (acquired by Palo Alto Networks) and Verodin (acquired by FireEye).
“2020 has been a year of significant turmoil and change. We’re looking forward to working with the next group of industry-altering entrepreneurs and helping them navigate the rapid changes taking place across markets,” says Charles Beeler, co-founder, partner, Rally Ventures. “Our strategy is built for all market cycles, and we have a strong history of success with early-stage companies regardless of the overall market environment. We’re optimistic about the future and very excited for the next chapter.”

Like this article? Sign up to our free newsletter