Redpoint raises $650M 3 years after its last big early-stage fund

Redpoint Ventures, a San Francisco-based firm that is about a quarter century old, has raised a $650 million 10th early-stage fund, according to a regulatory filing.

Redpoint’s new fund matches the size of its prior fund, which was raised just under three years ago. In a market where many venture firms are decreasing their capital hauls, this consistency could indicate the firm’s limited partners are relatively happy with its performance.

The firm’s early-stage strategy is managed by four managing partners: Alex Bard (pictured above), Satish Dharmaraj, Annie Kadavy, and Erica Brescia, who joined the firm in 2021 after serving as GitHub’s COO for nearly three years.

The early-stage team’s recent prominent investments include AI coding startup Poolside, which was founded by former Redpoint partner and GitHub CTO Jason Warner, a distributed SQL database developer Cockroach Labs, and procurement management platform Levelpath.

The multistage firm also runs a growth strategy, led by partners Logan Bartlett, Jacob Effron, Elliot Geidt, and Scott Raney. Last year, Redpoint raised its fifth growth-stage fund at $740 million, a slight increase from its $725 million fund closed three years prior.

Redpoint’s recent exits include Next Insurance, which was sold for $2.6 billion in March; food and travel media startup Tastemade, which was scooped up by Wonder for $90 million; and IBM, which acquired HashiCorp for $6.4 billion.