News Summary

Redpoint Ventures, a San Francisco-based venture capital firm, has successfully raised a $650 million 10th early-stage fund, maintaining the size of its previous fund raised nearly three years ago. This consistency in capital acquisition suggests positive feedback from its limited partners. The firm, which is approximately 25 years old, is managed by four partners: Alex Bard, Satish Dharmaraj, Annie Kadavy, and Erica Brescia, the latter of whom joined in 2021 after departing GitHub as COO. Redpoint’s recent investments include startups like AI coding company Poolside, database developer Cockroach Labs, and procurement platform Levelpath. The firm also operates a growth strategy fund, raising $740 million last year. Recent notable exits for Redpoint include the sale of Next Insurance for $2.6 billion and the acquisition of Tastemade by Wonder for $90 million.