Greycroft Raises New Fund Amid Tough Industry Conditions

The National Venture Capital Association earlier this week declared that the first quarter of this year was the slowest for venture-capital firms trying to raise money since 1993. Despite such conditions, venture-capital firm Greycroft Partners has just closed a new fund.

The firm, founded by private-equity investor Alan Patricof in 2006 to invest in digital media startups, has raised a new $130.7 million fund following a $75 million fund in 2006. Rounding up the cash for the new fund wasn’t an easy process, however.

Ian Sigalow, a partner at Greycroft, says the firm started raising money more than a year ago in March 2009. In total, the firm had 160 first meetings with potential investors and dealt with many months where no investors committed, he says. “The first quarter of 2009 was miserable,” Mr. Sigalow says, recalling the deep-freeze that followed the stock market meltdown in late 2008. “It was cold. (Some investors) were saying why would we invest in a new fund?”

Read the rest of this post on the original site


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »