Craft Ventures, a venture firm which started in 2017 by the serial entrepreneur named David Sacks, has now closed the 2nd fund with a budget of $500 million, an amount that the firm was said to start targeting a year ago. The debut of the Craft fund closed with $350 million. The Outfit that David Sack runs with the other serial entrepreneurs named Bill Lee, Sky Dayton and Jeff Fluhr, invests in a series of A and B rounds in wide range of firms which neatly fit into the wheelhouse of the investors.
David Sacks, who was the chief operating officer of the PayPal before founding genealogy website named Geni.com and then Yammer, for his part, he is now strongly focused on both the enterprise startups as well as the consumers as long as they go viral. The signature of David Sack bet the Craft and the e-scooter firm where the Series A round Craft led. Fluhr focuses strongly on the marketplaces as well as on the e-commerce startups. Besides the firm cites one of tis prominent deals. On the other hand, Lee has focused on the breakthrough technologies as well as counts his investments to the esports company named Cloud9. Cloud9, went on and raise %50 million is the Series B funding in the previous year.
Lastly, Dayton, a very sincere co-founder with Travis Kalanick in the CloudKitchens, which is the dark kitchen company trying to take over the world – focuses on the hard tech drawing on his own experience of starting dial-up pioneer named EarthLink plus the Wi-Fi service provider called Boingo Wireless.
All of the four investors have impressive portfolios, including the bets on Airbnb, Affirm, Slack, Houzz and also the Facebook. Naturally, though they have backed the startups which have not proved as winners. It will be too soon, if they have much success as an entire team, however, some of the recent bets of Craft including Terminal raised around $17 million funding last month.