Greycroft Partners, a venture capital firm that focuses on investing in early-stage digital companies, has closed on a new growth fund of $200 million.
Although Greycroft chose not to disclose the fund’s amount in its SEC filing, it has since emerged that the firm exceeded the initial target of $160 million that was set in late February.
The New York-based business has previously granted cash injections to performance marketing companies including ExactView owners Performance Horizon Group, tag management company TagMan and link monetisation technology Skimlinks.
Founded in 2006, the venture capitalist firm operates slightly different to other VCs. Rather than putting too much cash into early-stage companies, it invests small amounts and then increases that as they grow.
Other than Tagman, which was purchased by Ensighten, Greycroft has also seen success with the acquisition of various non-performance companies, including Huffington Post, Buddy Media, Maker Studios and Braintree Payments Solutions.