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Emergence Capital co-founder Jason Green on transitioning to the next chapter
Succession is a major issue for many venture firms. Institutional investors, founders even reporters often get attached to senior members of a team, and when one of those individuals decides to hang up his or her cleats, it can be tricky for the rest of the partnership.
For its part, Emergence, a highly successful enterprise-focused venture firm, has been thinking about succession for at least the last decade, suggests Jason Green, who co-founded the outfit with Gordon Ritter and Brian Jacobs in the winter of 2002 and who says the team has long focused on hiring younger investors who can someday steward the firm.
Emergence, known for its enterprise bets, just rounded up nearly $1 billion across two new funds
Emergence, the 18-year-old, San Mateo, California-based venture firm focused on enterprise tech startups, has rounded up nearly a billion dollars in capital commitments across two funds. It closed its sixth early-stage fund with $575 million; the outfit also raised a so-called opportunity fund for the first time, closing it with $375 million in capital commitments.
It’s a significant shift away from standard operating procedure for Emergence, which has funded a string of highly successful companies at their earliest stages but has, until now, maintained a conservative approach when it comes to fundraising, closing its fifth fund in 2018 with $435 million and its fourth fund with $335 million in 2015.
VC Firm Emergence Raises $950 Million Across Two New Funds To Find The Next Zoom
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Some members of the Emergence team using the investment of partner Santi Subotovsky (second from left), Zoom, to virtually meet. The general partnership remains all male.
Emergence
An enterprise-focused venture capital firm with early bets including video-conference tool Zoom and life sciences software maker Veeva is fueling up with nearly $1 billion in new funds.
Emergence is announcing it raised a new $575 million early-stage fund, the firm’s sixth, alongside a $375 million opportunity fund, the first of its kind. The new funds take Emergence’s assets under management to $2.3 billion.