SOSV closes its first $100M select growth fund for Series B and beyond-stage startups

SaaS News -SOSV-closes-its-first-$100M-select-growth-fund-for-Series-B(source: SaaS Industry)
At a Glance

Global VC firm SOSV has closed its special fund, which it calls a growth-stage fund to invest in startups in their Series B and beyond stages. Using these funds, it aspires to invest up to $5M in about 20-30 startups. Also, it aims to deploy its SOSV IV select fund, which was oversubscribed in 2019, for deep-tech startups

Princeton-headquartered global venture capital firm SOSV that operates startup accelerator investment programs, has recently announced the close of its SOSV Select Fund, its first dedicated growth-stage fund, after it touched $100 million. 

Using this fund, SOSV plans to invest $2 to $5 million in about 20 to 30 startups, who are at their Series B and beyond stages, over the next three years. The VC firm will invest exclusively in its portfolio firms, from its startup development programs such as IndieBio, HAX, Chinaccelerator, MOX, and dlab. Last year alone, SOSV had raised $1 billion and invested in about 25 of its portfolio companies in their later stage rounds, amounting to a 38 percent increase compared to its 2019 investments.

According to Sean O’Sullivan, managing partner at SOSV, the select fund would help SOSV keep pace with growing opportunities in the years to come. 

While we spend most of our time working with companies that are just getting started. Many of our three-to-five-year-old startups are hitting the tens-of-millions-in-revenue level that attracts later stage investors

Sean O’Sullivan, managing partner at SOSV

Alongside the $100 million Select Fund, SOSV will deploy capital from its $277 million oversubscribed SOSV Fund IV, which it had set up in 2019 specifically for early to deep-stage tech startups. SOSV will help companies in their development to the Series A stage using it.

Credit Suisse, WTT Investment Ltd, Golden Vision Capital, AIFAM, along with its family offices across the US, Europe, Asia, and Australia; are the limited partners in this newly closed $100 million select fund. 

Today, SOSV has over $900 million in assets under management and over 1,000 portfolio companies. Mr. Sullivan stated that seven of SOSV’s largest investments in the last eighteen months were made in the SOSV Climate Tech 100 (its climate tech investments).

Three of those ten rounds came from our programs in Asia, where we see exciting growth in line with our cross-border investing thesis. It’s very exciting to help those cross-border teams grow from the two or three founders when they joined our programs to bustling firms with hundreds of staff

Sean O’Sullivan, managing partner at SOSV
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