Craft Ventures
Craft Ventures is a venture capital firm based in San Francisco which makes early stage venture investments. Craft was founded in 2017 by David O. Sacks and Bill Lee.[1] As of November 2018 it has invested in startups such as Bird, BitGo, Cloud9, Harbor, Lumina, Reddit, SpaceX, Terminal and Wayv.
Private | |
Industry | Venture capital |
Founded | 2017 |
Founder | David O. Sacks, Bill Lee |
Headquarters | San Francisco |
Products | Venture capital |
Total assets | $350 million |
Background
Craft was founded in 2017 by David O. Sacks, formerly of Yammer and PayPal[2] and Bill Lee.[3][4] Jeff Fluhr is a general partner in Craft.[5]
Ventures
Craft's first investment was in a series A round for Bird, a scooter sharing company. The firm further invested in a series B round of funding.
Craft's invested in BitGo, other investors included Goldman Sachs, Galaxy Digital Ventures, and Valor Equity Partners.[4][6] Craft Ventures, in conjunction with Peter Thiel’s Founders Fund, Chamath Palihapitiya and Reddit co-founder Alexis Ohanian invested $28 million into eSports startup Cloud9.[7]
Craft have invested in Harbor, a blockchain company which provides services for firms to tokenize their assets.[8][9] In October 2018, Craft invested in Wayv, a business to business logistics platform which works in the cannabis industry.[10][11] Craft have also financed Lumina, Reddit, SpaceX, and talent-outsourcing startup Terminal.[2]
References
- Primack, Dan (4 January 2018). "David Sacks teams with Bill Lee to raise $350 million VC fund". Axios. Retrieved 3 June 2018.
- Chernova, Yuliya (29 October 2018). "David Sacks Looks to Raise Up to $500 Million for Second Craft Ventures Fund". Wall Street Journal.
- Primack, Dan (6 October 2017). "Ex-Zenefits CEO David Sacks raising VC fund". Axios. Retrieved 3 June 2018.
- Jackson, Eric (6 February 2018). "Ex-PayPal executive David Sacks explains how his new company will change crypto trading". CNBC. Retrieved 3 June 2018.
- "Jeff Fluhr". Bloomberg. Retrieved 1 November 2018.
- "Blockchain security company BitGo pulls in $57.5 mln Series B". Pe Hub Network. 19 October 2018. Retrieved 1 November 2018.
- "Can This Man Make His Video Gaming Team a $1 Billion Business?". 6 August 2018. Retrieved 1 November 2018.
- "PayPal Alum: How Blockchain Will Change Investing and Why Real Estate Will Be First". Fortune. 19 May 2018. Retrieved 1 November 2018.
- "David Sacks's new startup wants to make it safer for old-guard industries to jump into crypto". Tech Crunch. Retrieved 1 November 2018.
- "Cannabis platform Wayv receives $5M in seed funding from Craft Ventures". Mobilepaymentstoday.com. 29 October 2018. Retrieved 1 November 2018.
- "Eaze co-founder inks $5 million raise for marijuana logistics firm". Marijuana Business. 30 October 2018. Retrieved 1 November 2018.