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.

Craft Ventures
Private
IndustryVenture capital
Founded2017 (2017)
FounderDavid O. Sacks, Bill Lee
HeadquartersSan Francisco
ProductsVenture 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
  1. Primack, Dan (4 January 2018). "David Sacks teams with Bill Lee to raise $350 million VC fund". Axios. Retrieved 3 June 2018.
  2. Chernova, Yuliya (29 October 2018). "David Sacks Looks to Raise Up to $500 Million for Second Craft Ventures Fund". Wall Street Journal.
  3. Primack, Dan (6 October 2017). "Ex-Zenefits CEO David Sacks raising VC fund". Axios. Retrieved 3 June 2018.
  4. Jackson, Eric (6 February 2018). "Ex-PayPal executive David Sacks explains how his new company will change crypto trading". CNBC. Retrieved 3 June 2018.
  5. "Jeff Fluhr". Bloomberg. Retrieved 1 November 2018.
  6. "Blockchain security company BitGo pulls in $57.5 mln Series B". Pe Hub Network. 19 October 2018. Retrieved 1 November 2018.
  7. "Can This Man Make His Video Gaming Team a $1 Billion Business?". 6 August 2018. Retrieved 1 November 2018.
  8. "PayPal Alum: How Blockchain Will Change Investing and Why Real Estate Will Be First". Fortune. 19 May 2018. Retrieved 1 November 2018.
  9. "David Sacks's new startup wants to make it safer for old-guard industries to jump into crypto". Tech Crunch. Retrieved 1 November 2018.
  10. "Cannabis platform Wayv receives $5M in seed funding from Craft Ventures". Mobilepaymentstoday.com. 29 October 2018. Retrieved 1 November 2018.
  11. "Eaze co-founder inks $5 million raise for marijuana logistics firm". Marijuana Business. 30 October 2018. Retrieved 1 November 2018.
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