Forerunner raises larger $360 mln fourth venture fund

Forerunner Ventures said it raised a $360 million fourth fund to continuing investing in early-stage companies in a market place that has become increasingly competitive.

The new fund is nearly triple the size of the firm’s $122 million third fund from 2016, which itself was a leap over its $75.8 million second fund from three years earlier.

The firm said it would “double down” on its founding strategy of addressing opportunities in the consumer sector and commerce, according to a blog post from founder Kirsten Green.

“Many old-guard commerce leaders are saddled by outdated value propositions and infrastructure,” the post said, noting that Amazon itself is 20 years old. “Much has changed since then. The consumer has evolved, and the way we do business has transformed.”

It added that it sees “a future for one-on-one commerce again, but this time delivered in a scalable way.”

The firm has 49 active portfolio companies spanning consumer-facing offerings to supporting B2B services.

The post went on to say that increasing sums of money coming into venture have set new exit ambitions.

“The startup environment is vexed by more competition than ever, with changing goal posts challenging these measurements,” Green wrote.

The blog post can be found here.