Greycroft Partners closes its second fund to invest in digital media businesses

NEWS

Greycroft Partners LLC, an early stage venture capital fund based in New York and Los Angeles announced today the completion of $130.7 million in fundraising for its second fund, Greycroft II. Greycroft II will continue to focus on businesses in the digital media space, broadly defined as products or services delivered through a wireless device or via the Internet.

Greycroft II investors encompass a leading group of municipal and corporate pension funds and endowments led by JP Morgan Investment Advisors, in addition to individuals from across the corporate world. The General Partners of the new fund are the same as Greycroft I, Alan Patricof, Dana Settle and Drew Lipsher with the addition of Ian Sigalow, promoted from Principal.

Previously, Greycroft I raised $75 million, completely from high net worth individuals. During its four years in operation, Greycroft I made over 30 investments in the digital media space including: Collective, Huffington Post; Paid Content, which was sold to Guardian Media; Digisynd, which was sold to Disney; and Pump Audio, which was sold to Getty.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s