The firm's most highly valued portfolio companies include Cohere, Scale AI, and Gusto. Section 32 typically makes 20-25 investments per fund, investing $5 million to $10 million in the first round. The firm has already made five to six new investments from its new fund. Alongside the new fund announcement, Section 32 also announced the promotion of Wesley Tillu from senior principal to partner.
Key takeaways:
- Section 32, a venture firm founded by ex-Google Ventures CEO Bill Maris, has closed on $525 million in capital commitments for its fifth fund, with a portion of the capital going toward early-stage investments and the rest reserved for follow-on opportunities.
- The firm, which now manages $2.3 billion in assets, has backed about 100 startups across various software-driven industries and has seen several of its investments become publicly-traded companies.
- Some of Section 32's most highly valued portfolio companies include Cohere, Scale AI, and HR tech company Gusto.
- The firm typically makes 20-25 investments per fund, investing $5 million to $10 million in the first round, and then allocating “substantial reserves” against that position. It has made five to six new investments out of its new fund.