Foundation Capital looks to raise up to $350m for Fund 9

Foundation Capital is aiming to raise up to $350m for its ninth venture capital fund.

This new vehicle is seeking $25m more than its predecessor fund, which hit $325m in 2015, according to documents submitted to the US Securities and Exchange Commission.

It is unclear whether the amount registered is a target or hard cap. No capital has been registered for the fund to date, the filing shows.

Foundation Capital was established in 1995 by its founders Kathryn Gould, Jim Anderson and Bill Elmore.

The Palo Alto-based firm targets businesses in the consumer, energy, FinTech, IT infrastructure, marketplaces, marketing technology and SaaS sectors.

Foundation Capital recently took part in the $133m funding round of Basis, a cryptocurrency with an algorithmic central bank.

Late last year, the firm led the $18.8m Series B round of insurance support solution CoverWallet. The round was raised to develop its technology, increase its partnerships and scale its operations, to help keep up with growing demands.

Other FinTech companies in its portfolio include online mortgage platform LendingHome, digital trading platform Motif Investing, and investment management solution Envestnet.

Earlier this month the early stage investor announced the appointment of Morgan Lai as an associate and Sid Trivedi as a senior associate.

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