CrunchFund

CrunchFund is an early stage venture capital firm headquartered in San Francisco. While it works with information technology companies at any stage, it is primarily focused on seed and early stage investments.

History

It was founded in September 2011 by Michael Arrington (who later left TechCrunch in October 2011), Patrick Gallagher, and MG Siegler (who later left for Google Ventures) - when it raised its inaugural $20 million in funding. $8 million came from AOL, and much of the rest coming from individuals (like Ron Conway and Marc Andreessen).^[1] It raised $32 million in additional capital in a second round on January 30, 2014.^[2]In 2016, Susan Hobbs joined as a partner^[3] while Michael Arrington took on a reduced role.^[4] As of 2016, it has raised $59 million in funds. ^[5]

Management

• Michael Arrington, General Partner
• Prashant Fonseka, Associate
• Patrick Gallagher, General Partner

Investments

Square was one of its investments that successfully raised an initial public offering. Among its other investments include Airbnb, Cruise, DigitalOcean, Mesosphere, Redfin, Path, and Uber.^[2] At least 35 of its other investments, such as Klout, have become acquisitions.^[5]

Philosophy

It invests $250,000 to $500,000 in young startups, and only invests with other venture capitalists.^[6] Most of the companies it invests in are in the categories of the mobile web and the curated web.

References