11.8 C
London
Tuesday, September 27, 2022

Spur, a fund of funds, targets $200 million to bet on early-stage VC in a downturn – londonbusinessblog.com

Must read

Boom In Jobs: Corporate India gets to work, IT sector leads the way

The pace of job creation is rising to 8.5% after losses during the pandemic.According to Jefferies, total employee expenses grew 13% year-over-year in FY22,...

Inside The Life of Troy Landry: His Bio, Career, Net Worth

Troy Landry, known as The King of Swamp, is the most famous alligator hunter in America. Landry, 62, is the centerpiece of History...

Doug Mastriano said in 2019, women who violate the proposed abortion ban should be charged with murder

sen. Doug Mastriano of the state, the Republican nominee for governor in Pennsylvania, said in 2019 that women should be charged with murder...

A new Instagram test removes the store tab from the home screen • londonbusinessblog.com

Meta is making it harder to find the Store tab on Instagram with its latest test. In the new test, the Store tab...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Spur Capital Partners, a venture capital fund investor, plans to raise $200 million for its seventh core fund. sso far it has brought in nearly $74 million betting on early stage VCs, per a securities deposit.

Who or what exactly is Spur betting on? Over the years, the investor claims to have indirectly supported tens of high-flying early-stage technology and life science companies, including hostelier Airbnb and arms maker Anduril. But Spur did not respond when asked about the names of the VC firms in his portfolio.

Spur has been raising money for the fund for more than a year and is already investing out of it, the Bartlesville, Oklahoma-based company told londonbusinessblog.com. So far, at least 40 unnamed investors have contributed to the seventh fund, according to the filing. Spur says its limited partners include retirement plans and family offices in the US and Europe.

Spur has been around for about two decades, but at $200 million, the company’s seventh fund would be one of its largest ever. The investor has more than $1.2 billion in assets under management, according to PitchBook.

Betting on VCs in a downturn

The economy stinks and tech knows it. Reactionary startups are firing employees, and even giants like Google are sending fewer offers and wringing what they can from their existing workforce. With the way things are going, you might assume venture capital is feeling the heat, and until then, VCs are cutting deals in some — but not all — cases. Yet it is not because they have no more money.

In reality, US VCs have more money left than ever, but rising interestRussia’s invasion of Ukraine and other factors have renewed the craving for profitability, at least in later stages.

On the other hand, the trend is driving more cash funds that support venture start-ups. Even in perpetually uncertain times, investors still don’t want to miss a thing the The next big thing could be.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Boom In Jobs: Corporate India gets to work, IT sector leads the way

The pace of job creation is rising to 8.5% after losses during the pandemic.According to Jefferies, total employee expenses grew 13% year-over-year in FY22,...

Inside The Life of Troy Landry: His Bio, Career, Net Worth

Troy Landry, known as The King of Swamp, is the most famous alligator hunter in America. Landry, 62, is the centerpiece of History...

Doug Mastriano said in 2019, women who violate the proposed abortion ban should be charged with murder

sen. Doug Mastriano of the state, the Republican nominee for governor in Pennsylvania, said in 2019 that women should be charged with murder...

A new Instagram test removes the store tab from the home screen • londonbusinessblog.com

Meta is making it harder to find the Store tab on Instagram with its latest test. In the new test, the Store tab...

Is Silicon Valley Really Losing Its Crown? • londonbusinessblog.com

Where is the heart of the technology industry? The simple answer is "Silicon Valley," a term that now generally means the San Francisco-San Jose-Oakland area...