Acrew Capital is engaging itself in a late-stage investment plan with a diversity-focused fund of $300 million. The team has invested funds in Coinbase Global Inc. Discord Inc is said to have raised $380 million in early-stage funding. At present Acrew Capital has close to $1 billion under management according to Bloomberg News.
Acrew was set up in the year 2019 by partners of Aspect ventures including Lauren Kolodny and Theresia Gouw that are founding partners. This team has continued with its investment strategy into various domains like financial technology businesses, Chime Financial Inc for instance. It is also eyeing community-related businesses aside from data and security.
As far as its late-stage funding is concerned, Bloomberg News said that some of the investments that it intends to make will be so-called follow on checks for the portfolios of the existing firms. Aside from this, there will be new investments as well. Approximately, 70% of the partners in the purview of limited investors in the fund are minorities or women.
In the last few years, there has been an investment spree and it has been observed that the majority of the same has been dominated by white men. The investment push has been in place intending to focus on the underrepresented groups and enhance diversity in the investment world.
Cisco Investments, which is the corporate venture arm of Cisco Systems Inc, has invested in Acrew Capital. Cisco is the largest manufacturer of equipment related to computer networking.
According to Bloomberg News, it is believed that Acrew’s network will assist companies in finding seasoned board members as they look forward to taking more onboard.