NewView Capital has raised $544 million across two funds: NewView Capital Fund II and Special Opportunities Fund I. NVC II focuses on B2B software as a service, fintech, consumer internet, and artificial intelligence; and SOF I is focused on advancing NVC’s curated portfolio acquisition strategy.
BURLINGAME, Calif., February 23, 2022 /PRNewswire/ — NewView Capital (NVC) today announced that it has closed $544 million in a pair of funds, NewView Capital Fund II (NVC II) and Special Opportunities Fund I (SOF I). This brings the firm’s total assets under management to over $2.2 billion, with investments including Forter, Plaid, Messagebird, Bloomreach, Heap, 23andMe, Duolingo, Modern Treasury, Human Interest, Segment, and Scopely.
Founded in 2018, NVC is engineered to provide flexible capital and operational excellence to companies through both direct investments and curated portfolio acquisitions. The firm invests on a primary, secondary, or hybrid basis, can lead or follow, and doesn’t have minimum ownership requirements.
NVC II primarily focuses on investments in mid- to growth-stage opportunities, with an emphasis on B2B software as a service (SaaS), fintech, consumer internet, and artificial intelligence (AI).
SOF I is dedicated to advancing NVC’s curated portfolio acquisition strategy. This approach enables venture capital investors to manage their portfolios more actively by locking in returns, freeing up reserves, providing incremental partner bandwidth, and improving DPI. Portfolio companies also benefit by gaining access to NVC’s scale-up operational expertise and availability of follow-on capital. This strategy was pioneered in 2018, when the firm acquired 31 companies from established venture capital firm NEA after raising a $1.35 billion NVC Fund I.
“We are excited about the trajectory of the firm. We’ve grown while staying true to the integrity of our original mission—to support entrepreneurs by pairing flexible capital with significant operational support to build lasting, high-growth technology companies,” says founder Ravi Viswanathan. “This flexible approach enables us to meet the diverse and evolving realities of our many partners. For entrepreneurs, we can custom engineer our investments to meet their needs. For our VC partners, we are able to work collaboratively to provide early liquidity for their portfolio investments, freeing partner bandwidth and generating distributions for their limited partners.”
Expert support is a foundational aspect of NVC’s offering to entrepreneurs and C-suite executives. The firm’s in-house operating partners hold proven experience, which is leveraged in service of guiding go-to-market strategies, product development, fundraising, recruiting, and liquidity and M&A strategies to help leaders navigate company building and growth.
The firm continues to expand, recently welcoming investment partner Ben Fu, previously of NextWorld Capital, who will focus on investments in SaaS, artificial intelligence (AI), and infrastructure. Throughout his career, Fu has advised or served on the boards of companies such as Gong, Aircall, Honeycomb, Copper, DataStax, Box, Hubspot, and RingCentral.
Other notable hires include Chief Operating Officer James Beck. Prior to joining NVC, Beck spent nearly 22 years at Mayfield, where he served as Managing Director and Chief Operating Officer. Partners David Yoo and Tim Connor and Principal Christina Fa were also recently promoted within the firm.
About NewView Capital
NewView Capital (NVC) provides entrepreneurs, venture capitalists, and investors with the freedom to drive continual innovation and sustainable growth. With over $2.2 billion in capital under management, the firm offers direct investments and curated portfolio acquisitions, pairing flexible capital with significant operational expertise. NVC’s direct investments focus on growth-stage technology companies, with a thematic approach to investing earlier. The NVC portfolio includes Plaid, Forter, MessageBird, and Scopely. www.nvc.vc