Dec 21, 2023 - Business

Spark Capital is raising $2.1 billion for new funds

Kia Kokalitcheva

Illustration of a unicorn horn sticking out of a pile of cash. — Illustration: Maura Losch/Axios

Venture capital firm Spark Capital is seeking to raise $2.1 billion for a pair of new funds, according to filings with the U.S. Securities & Exchange Commission.

Why it matters: Spark is known for big hits like Twitter, Coinbase, and Slack, plus more recent bets on buzzy generative AI companies like Anthropic.

Details: The bi-coastal firm is targeting $700 million for its eighth flagship fund, focused on early-stage opportunities, and up to $1.4 billion for its fifth growth-stage fund.

The $2.1 billion target matches what Spark raised in early 2022 for the prior series of funds.

The bottom line: Venture fundraising is tough right now, but veteran, multi-stage firms are still aiming high.

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Spark Capital is raising $2.1 billion for new funds

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