Foundation Capital, an early backer of Solana and Cerebras, raises $600M fund

The Foundation Capital has given a long way as it was forced to reduce the size of its funds from $ 750 million in 20 years 28 282 million (its sixth major fund) In 2013.

On Tuesday, the 30 -year -old company announced that it had raised a $ 600 million XI flagship fund, which was 20% larger than the $ 500 million fund of the predecessor, it was closed about three years ago.

Foundation its weaving: The seeds are credited with the investment with investment.

“Most companies that have been around for about 30 years usually go to multi-giography, multi-stress. Instead we have been very focused on the early stages, “General partner Steve told Vasallo Techcunch.

The Foundation is the first institutional investor in more than 70% of its portfolio companies.

“I look for ‘$ 0 billion’ market in Enterprise, AI, Fintech and Crypto,” Vasalo said. “These markets are the markets that do not exist until the founders do not exist.”

He explained that the AI ​​chip market was virtually non -existent when cerebra was launched from the Foundation Capital office in 20 2016. “At that time, AI Workloads were subtracted,” Vasalo explained, Nvidia GPUs originally used gamers and graphic designers.

Since then, cerebras have become a company worth $ 4.25 billion. The company has filed a public S1 for the latest fall, however Its IPO suspended Basically because of a review of the Committee on Foreign investment in the United States (CFIU).

The Foundation Capital Blockchain Platform was also the first institutional investor in Solan.

Other recent exit include sales of fraud detection company Evolution in CCC to $ 730 million And the acquisition of Cybercquire Startup Venafi by Cybarak for $ 1.5 billionThe

Vasalo compares how they are looking for founders with pre-criminals in the minority report of the movie. “We occasionally make a joke about identifying pre-founders before leaving their last job,” he said.

The Foundation has claimed that by creating a new market, the winning investment of the firm ends “ownership of their categories”, which leads to better results.

Vasalo blamed for the farm’s skill to raise funds greater than his predecessor In this market In the history of high cash distribution firm.

“We have returned our LPS about $ 1.5 billion in the last three years,” Vasalo added, “This amount was three times higher than that the firm (or requested) was called from its investors during this period.

Although the Foundation view is drawn to its early stages of the Foundation, it is claiming that it needs a greater fund because the size of the deals in the seeds and series has increased and the firm wants to continue to own 15% to 20% of each company’s first investment.

However, one thing about the foundation is now different. Charles Moldo, a investor who spent about 20 years at the farm like Lending Club, Rappi and Kiavi and retired last year, left the Foundation with four general partners.