With the prospect of unfreezing startup exits in the promisingly growing tech industry, one venture firm appears to be building a war chest of dry powder.
San Francisco-based Quiet Capital has raised $377 million for a third fund, a filing Last week with the Securities and Exchange Commission. Quiet Capital’s founder, Lee Linden, did not respond to a request for comment, nor did a phone number listed on file.
True to its name, while Quiet Capital has kept a low profile, the company has been an active early-stage tech backer since its inception in 2017, including early investments in companies such as HR platform Rippling and celebrity learning platform MasterClass.
Linden is a former partner at the corporate giant Kleiner Perkins, as well as the creator of Karma, a gift-giving app. acquired according to Facebook in 2012 He worked as the head of commerce for the social media platform. Quiet Capital invests in a variety of sectors including AI, crypto and healthcare.
Risk rebound
After a record 2021, fundraising for global venture firms has been steadily declining in recent years, with 2024. establish being one of the worst years in the sector in a decade. Profits have also fallen, last year with venture companies returning That’s the lowest number for investors since 2011, according to data provider PitchBook.
However, there have been bright spots of hope, including a number of crypto companies praise and Hack VC raising new funds, as well as the still growing field of AI attract million VC dollars.
Quiet Capital’s new raise would mark one of the biggest funds of the year, along with Forerunner Ventures. advertisement 500 million dollars of the fund this month.
According to the SEC filing, Quiet Capital has so far raised $377,992,500 for the fund — called Quiet Venture III — which began raising in November 2022. It could not be ascertained whether Quiet Capital is still raising capital for the vehicle.
The Linden-led firm raised its previous fund in 2021, with an SEC filing to list nearly $479 million has been raised to reach the $500 million mark.
Last week, Quiet Capital he took A $12 million seed round for Mach9, an AI-powered mapping software company. Including other recent investments Standard botsa robotics automation company as well The bot companyA different robotics startup founded by Kyle Vogt, former CEO of Cruise.
