Venrock Closes $450 Million Seventh Fund To Invest In Tech And Healthcare Startups

Venrock Closes $450 Million Seventh Fund To Invest In Tech And Healthcare Startups

TechCrunch

Long-running venture capital firm Venrock just closed its seventh fund, bringing in $450 million in new capital. The firm, which has been around since the ’60s and counts the Rockefeller family as one of its big LPs, will use the new money to continue investing in early-stage tech and healthcare companies.

The new fund comes four years after the firm raised its sixth fund, which closed at $350 million. Since then, the company has made a series of investments in health and tech startups, including companies like Zenefits, AppNexus, Doctor On Demand, Smartling, Dollar Shave Club, and Nest.

The firm’s also seen a fair amount of success of late from its investments. In the past five years, it’s had eight companies with more than $1 billion exits. In 2014 alone, it’s had five IPOs — most of which are on the healthcare side…

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