Greycroft Partners is a venture capital firm focused on investments in early stage companies primarily in the digital media sector. The firm, which has offices in New York City and Los Angeles. Greycroft was founded in 2006 by venture capital pioneer Alan Patricof, after leaving Apax Partners in 2005. Together with partners Dana Settle and Ian Sigalow, Patricof wanted to return to early stage investing in smaller transactions.
Greycroft was formed based on two realizations:
- First, advances in technology have allowed companies to scale with less direct investment.
- Second, large venture funds have a tendency to over-capitalize early stage companies, eliminating many likely exit opportunities.
The firm raised its first fund with $75 million of investor commitments and has deployed that fund into 34 companies. Greycroft Fund I is now among the top performing venture capital funds of the last decade. Greycroft closed its second fund in 2010 with an additional $130 million in capital. These two realizations to the creatation a new type of venture firm that was intentionally small but provided the network and access to rival any top-tier venture fund. Greycroft invests between $500,000 and $5 million at inception, and will increase on a staged basis to double that amount over time.
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