Portfolio Spotlight

Greycroft closes on over $1 billion across new funds

April 26, 2023

Greycroft, a venture capital firm that describes itself as investing “from seed to growth,” announced today that it has secured more than $1 billion in capital commitments for its new funds.

According to co-founder and managing partner Dana Settle, the firm’s two flagship funds — Greycroft Partners VII and Greycroft Growth IV — have raised more than $980 million. These funds will be used to invest in early-stage and growth-stage enterprise and consumer companies.

“Greycroft’s bi-coastal presence in Los Angeles and New York gives us a unique perspective and deep insight into the technological advancements that are driving emerging themes and reshaping industries at the intersection of culture and commerce,” Settle said in a prepared statement. “Our investment strategy remains consistent: we look for companies that are exploring next-generation applications of technological innovation and support them at critical moments in their commercialization.”

Founded in 2006 by Settle, Ian Sigalow, and Alan Patricof, Greycroft manages more than $2 billion in capital. Its portfolio includes companies such as Bird, Bumble, HuffPost, Goop, The RealReal, and Venmo. The firm focuses on early-stage and high-growth investments worldwide, with check sizes ranging from $500,000 to $50 million, and its business spans nearly 20 countries.

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Greycroft’s growth fund focuses on investing in growth-stage companies, with check sizes starting at $10 million and going up to $35 million. Meanwhile, its venture fund makes initial investments ranging from $500,000 to $5 million.

Previously, Greycroft raised two funds totaling around $700 million ($678 million), namely Greycroft VI ($310 million) and Greycroft Growth III ($368 million), bringing its total capital to $2 billion. Since 2006, the firm’s committed capital has grown from $75 million to $3 billion, and it has partnered with more than 250 portfolio companies.

“We are witnessing a once-in-a-century industrial transformation — one driven by advances in artificial intelligence and the growing demand for sustainable products,” Sigalow added in the press release. “Despite challenging economic conditions, these long-term trends are creating new opportunities across sectors. This is not the first time we’ve navigated a shift of this scale, and we look forward to seeing the innovation and ambitious entrepreneurs that will emerge during this period of transformation.”