Capital Foundation, an early supporter of Solana and Cerebras, raises the $ 600 million fund

Capital Foundation has traveled a long road since it was forced to reduce its fund size from $ 750 million in 2008 to $ 282 million (sixth main fund) in 2013.

On Tuesday, the 30 -year -old company announced that it has raised an emblematic $ 600 million, which is 20% higher than the predecessor of the $ 500 million fund that he closed about three years ago.

The Foundation credits its rebirth with gluing to its knit: investments on the seed scene.

“Most companies that have been around 30 have usually passed in several stages, multi-geography, multi-strategy. Instead, we were very focused on the early stage, ”General Steve Vassallo partner told Techcrunch.

The foundation is the first institutional investor in over 70% of its portfolio companies.

“We are looking for what they call markets” 0 billion dollars “in Enterprise, AI, Fintech and Crypto,” Vassallo said. “These are markets that do not even exist until the founders are.”

He explained that when the brain was launched in 2016, from the Capital’s Office Foundation, the chip market was practically non -existent. “At that time, your tasks were tiny,” Vassallo explained, adding that NVIDIA GPU were mainly used by graphic players and designers.

Since then, the brain has become a company valued at $ 4.25 billion. The company submitted a public S1 last fall but has postponed his iPo Mainly due to a revision of the US Investment Commission (CFIUS).

The Capital Foundation was also the first institutional investor in the Blockchain Solana platform.

Other recent outputs include selling fraud detection company Evolutioniq to CCC for $ 730 million and the acquisition of starting the cybersecurity Cyberark venafi for $ 1.5 billion.

Vassallo compared how he is looking for the founders with the pre-criticians in the report of the film minority. “Sometimes we joke about identifying the pre-founders before leaving their last job,” he said.

The Foundation claims that, by creating new markets, the winning investments of the company become “own their categories”, which leads to better exponential results.

Vassallo attributed the company’s ability to raise a higher fund than his predecessor on this market to the history of the large cash distribution company.

“We gave back about $ 1.4 billion back to our LPs over the past three years,” Vassallo said, adding that this amount is more than three times higher than he called (or requested) from his investors during that period.

Although the Foundation firmly respects its strategy in an early stage, it claims that it needs a larger fund, because the size of seeds and offers in the A series has increased, and the company wants to continue to have 15% to 20% of each company when it first invests.

But one thing about the foundation is different now. Charles Moldow, an investor who spent almost 20 years at the company and held companies such as LendingClub, Rappi and Kiavi, withdrew last year, leaving the Foundation with four general partners.