Employee Stock Option Fund closes fifth fund at $200m

• The fund’s limited partners include new investors as well as longstanding ones
• ESO launched its inaugural fund in 2012
• Firm was founded by Scott Chou, Stephen Roberts and Jimmy Lackie

Employee Stock Option Fund, which helps employees of venture-backed startups exercise their stock options, has closed its fifth venture fund at $200 million.

Fund V attracted new investors as well as longstanding ones. LPs in previous funds include Cross Creek, a fund of funds based in Salt Lake City; Evergreen National Indemnity Co of Mayfield Heights, Ohio; and Indemnity National Insurance of Knoxville, Tennessee, according to PitchBook.

ESO Fund, based in San Mateo, California, launched its first fund in 2012 and since then, “has helped thousands of employees of venture-backed companies,” according to the news release announcing this fundraising.

ESO Fund said it plans to use this new fund to continue investing in the next generation of private companies by partnering with their employees to finance stock option exercises and provide liquidity for shares already purchased.

“Given the uncertainty in today’s market, ESO’s ability to eliminate risk for startup option holders is more important than ever,” Scott Chou, co-founder of ESO Fund, said in a statement. “By working with ESO, employees are able to purchase the equity they’ve worked so hard for without having to face heightened risk or worry about uncertain liquidity timelines.”

ESO Fund was founded by Chou, Stephen Roberts and Jimmy Lackie.