Crosslink Capital scores $275m for final close of fund VIII

Crosslink Capital has scored $275m for the final close of its oversubscribed eighth fund.

Crosslink Ventures VIII was oversubscribed and received contributions from both existing and new investors. An initial target for the vehicle was set at $250m, according to previous SEC filings.

Its predecessor closed on $170m in February 2015, while its Crossover Fund VI netted $320m in 2013.

The US-based investor backs a range of sectors including FinTech, Big data and analytics, digital health, cloud infrastructure, alternative energy and enterprise software, among others. Within the FinTech space the company has invested into companies including property management company Great Jones, self-learning data platform Reltio, financial advisor Personal Capital and P2P lending marketplace Prosper.

Last month, the firm participated in the $70m Series C round of US challenger bank Chime. The company, which recently surpassed one million bank accounts, provides consumers with a debit card, spending account, savings account and a mobile app to monitor their finances.

Crosslink general partner Eric Chin said, “Our core mission is to help companies scale and succeed by providing our founders with access to all the resources we offer: industry expertise, go-to-market advice, the rich ecosystem of alpha and our thriving network of Crosslink portfolio company executives.”

The firm also operates a networking group Alpha, which is comprised of 950 founders, CEOs and influencers interested in developing the next generation of technology.

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