Upfront Ventures, a Los Angeles-based venture capital firm, has filed paperwork with the U.S.
Securities and Exchange Commission to raise its third growth-stage investment fund.Though the firm typically invests at the seed and Series A, capital from Upfront Growth III will be used for follow-on or late-stage deals.The firm, known for its investments in Bird, Goat, Ring, ThredUP and Parachute, plans to raise $250 million for the effort.
Mark Suster and Yves Sisteron, listed on the filing, lead the firm as managing partners.
Upfronts investor line-up also includes partners Kobie Fuller, Greg Bettinelli, Kara Nortman and Kevin Zhang.One of the oldest VCs rooted in LA, Upfront previously closed on $400 million for its sixth flagship early-stage fund in 2017.LA is on pace for a banner year of VC investment, attracting $33 billion across more than 1,000 deals already in 2019, according to PitchBook.
Last year, companies headquartered in LA raised more than $60 billion.