As the tech industry grows more optimistic about startup exit prospects thawing, one investment firm appears to be building a war chest of dry powder.
San Francisco-based Quiet Capital has raised $377 million for a third fund, according to A Deposit With the Securities and Exchange Commission last week. Quiet Capital founder Lee Linden did not respond to a request for comment, nor did a phone number listed in the filing.
While Quiet Capital, true to its name, has kept a low profile, the company has been an active backer of early-stage technology since its founding in 2017, including early investments in companies like HR platform Rippling and celebrity learning platform MasterClass.
Linden is a former associate at enterprise giant Kleiner Perkins, as well as the founder of Karma, a gift-giving app acquired By Facebook in 2012. He worked as the head of commerce at the social media platform. Quiet Capital invests in a variety of sectors, including artificial intelligence, cryptocurrencies, and healthcare.
Project recovery
After setting a record high in 2021, fundraising for global venture firms has seen a steady decline over the past few years, with 2024 due. hiring To be one of the worst years in this sector in a decade. Profits with project companies also declined last year Return The lowest amount for investors since 2011, according to data provider PitchBook.
However, there have been glimmers of hope, including a host of cryptocurrency companies such as Accolade and Hack VC raising new funds, as well as the still-thriving field of artificial intelligence, which has attracted billions of venture capital dollars.
Quiet Capital’s new raise will mark one of the largest this year for early-stage funds, along with Forerunner Ventures. advertisement earlier this month from a $500 million fund.
According to an SEC filing, Quiet Capital has so far raised $377,992,500 for the fund — titled Quiet Venture III — and began raising money in November 2022. It is not known whether Quiet Capital is continuing to raise capital for the vehicle.
The Linden-led firm raised its previous fund in 2021, by filing with the Securities and Exchange Commission. existing Nearly $479 million has been raised for a cap of $500 million.
Last week, quiet capital He drove $12 million seed round for Mach9, an AI-powered map-making software company. Other recent investments included Standard robotsa robotics automation company, as well as bot companya different robotics startup founded by Kyle Vogt, former CEO of Cruise.
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