Thursday, January 12, 2017
Report: Crosscut Ventures Launching Fourth Venture Investment Fund
Los Angeles-based venture capital investor Crosscut Ventures has reportedly started approaching limited partners (LPs) for investments in a new fund, its fourth. Crosscut's last fund, Crosscut Ventures 3, was worth $75M. The report, from the Pro Rata newsletter, said there's "a chance" that the new fund will be double in size of the last fund. Crosscut has not yet filed regulatory details on the new fund. Crosscut Ventures is managed by Rick Smith, Brian Garrett, Brett Brewer, and Clinton Foy. The firm is a heavy investor in Southern California's startup community, and has had a number of exits, including Dermstore (acquired by Target), Docstoc (acquired by Intuit), CircleSt (acquired by Valassis), GradientX (acquired by SingTel), Lettuce (also acquired by Intuit), SHIFT (acquired by Brand Networks), Shoedazzle (Acquired by Justfab); and Star.me (Acquired by Buzzfeed).