Greycroft, a storied New York-based venture capital firm, has closed its second growth equity fund, Greycroft Growth II , with $250 million.
With the formation of the new fund, the firm now manages more than $1 billion.
Greycroft Growth II , which is the successor to Greycroft Growth I, a $200 million growth fund that closed in 2014, will be used to make investments in growth rounds of the firm’s portfolio companies. The new fund will also be used to fund new companies, FinSMEs reports.
In addition to the launch of the new fund, Dylan Pearce has been promoted to partner, joining the firm’s current investment team that includes Ellie Wheeler, Dana Settle, Alan Patricof, Ian Sigalow, John Elton and Mark Terbeek.
Like its previous growth fund, Greycroft will continue to partner with e.ventures, at its outposts in Los Angeles, San Francisco, Berlin, Sao Paulo, Beijing and Tokyo.
Greycroft was founded in 2016 and the firm’s partners focus on investing in internet and mobile companies.
The firm’s portfolio of fashion, retail and lifestyle investments include BaubleBar, Blitsy, Clique Media Group, Cotopaxi, Custora, Cuyana, Eloquii, NuOrder, Shoes of Prey, The RealReal and Trunk Club, which has since been acquired by Nordstrom.