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The San Francisco-based company looks to match its second round of funds, which took place in April 2018. The company raised USD 300 million in March 2016, as part of its first flagship fund
Fremont, CA: Venture capital firm 8VC has filed paperwork with the SEC, disclosing its intent to raise USD 640 million for its third flagship venture capital fund. The San Francisco-based company looks to match its second round of funds, which took place in April 2018. The company raised USD 300 million in March 2016, as part of its first flagship fund.
According to the filing, no capital has been closed yet for the investment vehicle. In most cases, venture capital firms file a form D prior to closing capital for new funds, despite having secured soft commits from limited time partners before making the first close. Multi-time entrepreneur turned venture capital investor Joseph Lonsdale, is the sole general partner listed in the filing. Lonsdale is renowned as the co-founder of controversial data analytics company Palantir. Besides, he also co-founded the wealth management platform Addepar and government services Automator OpenGov.
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Lonsdale has worked as an early institutional investor in various firms like Wish, Oculus, Oscar, Illumio, Blend, Orca Bio, RelateIQ, Joby Aviation, Synthego, and Guardant Health. Most recently, he was a founding partner at Formation 8. During his time at Stanford studying Computer Science, Lonsdale worked with PayPal.
8VC has made several investments across various business sectors. It's most recent deal listed it as a participating investor in insurance technology startup Socotra’s $15.2 million Series B round. Amongst other agreements made in 2020, 8VC led a venture round raised by health care software company SurgLogs and participated in a Series A for Seattle-based Legalpad, which helps immigrants apply for work visas at startup companies. At the same time, the company has also seen several exits out of its portfolio. These include the likes of freelancer-focused mobile banking app-maker Seed, oncology tech Company Guardant Health and AI-powered drug discovery company RondinX.
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