Spur, a fund of funds, has targeted $200 million to bet on early-stage venture capital amid the economic downturn.

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Spur Capital Partners, an investor in venture capital funds, is set to raise $200 million for its seventh core fund. FROMSo far, he has received almost $74 million to bet on early-stage venture capitalists. securities announcement.

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Who or what is Spur betting on? Over the years, the investor claims to have indirectly supported dozens cutting-edge technology and early stage life sciences firms, including hostelier Airbnb and arms manufacturer Anduril. But Spur didn’t answer when asked about the names of venture capital companies in its portfolio.

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Spur has been raising money for the fund for more than a year and is already investing from it, the Bartlesville, Oklahoma-based firm told TechCrunch. At least 40 unnamed investors have invested in the seventh fund so far, according to the filing. Spur says its limited partners are pension plans and family offices in the US and Europe.

Spur has been around for about two decades, but the firm’s $200 million seventh fund will be one of the largest in its history. The investor has more than $1.2 billion in assets under management, according to Pitchbook.

Betting on venture capitalists during a recession

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The economy stinks, and technology knows it. reactionary startups dismissal of employeesand even giants like Google send out fewer offers and twist everything they can from their existing workforce. Based on the way things are going, you can assume that venture capital is feeling the heat and at this point, venture capitalists are cutting deals in some − But not all – cases. However, it’s not because they don’t have money.

In fact, American venture capitalists more money to save than everbut rise in interest ratesRussia’s invasion of Ukraine and other factors renewed the drive for profitability, at least in the later stages.

At the opposite end of the trend raising more funds that support venture capital firms at an early stage. Even in times of constant uncertainty, investors still don’t want to miss out on anything. in next big thing Maybe.


Credit: techcrunch.com /

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