CRV Raises $750 Million for Twentieth Flagship Fund
CRV has successfully secured $750 million for its twentieth flagship fund, as announced on Friday. This latest fund is smaller than the $1 billion early-stage fund the firm closed in 2022, alongside a $500 million second Select fund for late-stage investments in existing portfolio companies.
Unlike previous fundraise efforts, CRV has decided not to include a late-stage fund in this new round. The firm made headlines last year when it returned $275 million from its $500 million Select fund to investors, citing potential dilution of returns from follow-on rounds as the reason for this decision.
Despite this shift in strategy, CRV’s limited partners showed strong support for the smaller fund size, with the $750 million fund being oversubscribed in just four weeks. Demand for the fund exceeded expectations, indicating confidence in CRV’s investment approach.
The newly raised capital will primarily focus on seed and Series A investments, with a specific emphasis on consumer and devtools companies. CRV’s track record includes leading successful seed rounds for companies like DoorDash, Mercury, and Vercel, the latter reaching a valuation of $3.25 billion.
Founded in 1970, CRV has a rich history of backing startups, with over 750 investments to date and 80 successful IPOs among its portfolio companies.
Recent Investments and Future Prospects
CRV’s latest investments include CodeRabbit, a startup specializing in AI code review, and Outtake, a cybersecurity company leveraging AI technology. These additions to the firm’s portfolio demonstrate its ongoing commitment to supporting innovative and high-growth potential ventures.
Techcrunch event
San Francisco
|
October 27-29, 2025