Acrew Capital raises $700 million in fresh funds.
Acrew Capital, a San Francisco-based venture capital firm, has raised $700 million that will see investments in companies building in data and security, healthcare, or fintech. As the report goes, this fundraise brings the firm's assets under management to $1.7 billion.

It is unclear how much of that $700 million will flow into the company's early-stage strategy, which invests a little as $1 million to as much as $15 million in seed and Series A companies, and how much of it will flow into its discovery strategy, which cuts checks ranging from $10 million to $20 million for Series B and Series C companies.

The firm turns five years old, a milestone worth celebrating during a particularly tough year for venture funds and fundraising. U.S. VC firms have raised $65.1 billion across 305 funds so far this year, PitchBook data shows. But the raising totals in 2024 suggest they will be higher than in 2023, though it'll still be less than in any year since 2019.

The company might still be able to raise capital in these relatively more challenging times, given its impressive track record thus far.

Acrew already has a couple of exits under its belt, such as corporate spending platform Divvy, which sold to BILL for $2.5 billion in May 2021, and creator platform Superpeer, acquired by Skillshare, although for undisclosed terms, among others.

The firm is also investors in some of the most prominent private companies, including an insurance cybersecurity startup known as At-Bay valued last at $1.3 billion and Pie Insurance-a small business insurance startup that PitchBook estimates to be almost a billion dollars.

Founded in 2019 by Theresia Gouw, Lauren Kolodny, Vishal Lugani, Asad Khaliq, and Mark Kraynak, who are all with the firm to date. Acrew closed its first fund at $258 million.