Scale Venture Partners raises $600m

The Foster City, California-based firm has raised capital for its seventh early-stage tech fund.

Fund name: Scale Venture Partners VII
Target size: $600 million
Actual size: $600 million
Launch date: October 2020
Stage of fundraising: Final close

Scale Venture Partners held a final closing of Scale Venture Partners VII at its target of $600 million, according to a press release and Form D filed by the firm. Capital raised by the vehicle will be used to invest in early-stage cloud and SaaS software companies throughout the United States.

The fund received capital from several institutional investors, including a $25 million commitment from New Mexico State Investment Council.