NewView Raises New $544 Million

NewView Capital (NVC) has closed on $544 million in capital through a pair of new funds, NewView Capital Fund II LP (NVC II) and Special Opportunities Fund I LP (SOF I). With the close of the two new funds, NVC’s total assets under management are now more than $2.2 billion.

NVC II makes investments in mid-to growth-stage opportunities, with an emphasis on business-to-business software as a service (SaaS), fintech, consumer internet, and artificial intelligence (AI).

SOF I formalizes NVC’s strategy of acquiring venture investments from other venture capital investors. This strategy was launched by NVC in 2018, when the firm acquired 31 companies from New Enterprise Associates (NEA), a Maryland-based venture capital firm, through its $1.3 billion NVC Fund I LP.

“We are excited about the trajectory of the firm. We’ve grown while staying true to the integrity of our original mission—to support entrepreneurs by pairing flexible capital with significant operational support to build lasting, high-growth technology companies,” said NVC founder Ravi Viswanathan. “This flexible approach enables us to meet the diverse and evolving realities of our many partners. For entrepreneurs, we can custom engineer our investments to meet their needs. For our VC partners, we are able to work collaboratively to provide early liquidity for their portfolio investments, freeing partner bandwidth and generating distributions for their limited partners.”

The current NVC portfolio includes, among many others, financial app maker Plaid, e-commerce fraud prevention services Forter, customer communication software maker MessageBird, and entertainment and mobile games company Scopely.

The firm continues to expand with the recent additions of Investment Partner Ben Fu and Chief Operating Officer James Beck. Partners David Yoo and Tim Connor and Principal Christina Fa were also recently promoted at NVC.

California-headquartered NVC was founded in 2018 and invests on a primary, secondary, or hybrid basis, can lead or follow, and doesn’t have minimum ownership requirements.

© 2022 Venture Capital Investor | February 23, 2022