Data Collective tops off old funds

Data Collective, a venture capital firm focused on "deep tech," has added over $80 million to a pair of funds closed in early 2016. One of the funds is focused on early-stage companies, while the other is a sidecar for large-scale follow-on investments. The total capitalization of both funds now stands at $387 million.

Why it matters: Data Collective co-founders Matt Ocko and Zack Bogue tells Axios that the capital boost reflects how venture round sizes and lifecycles are getting larger and longer for complex enterprise tech companies.