NEW YORK & SANTA BARBARA, Calif.--(BUSINESS WIRE)--Lead Edge Capital, a technology-focused growth stage investment fund, today announced the closing of Fund VI. The new fund was oversubscribed, with over $1.95 billion of commitments from Lead Edge’s expansive network of over 500 limited partners and institutions.
LEC will target making equity investments of between $15 million and $200 million per portfolio company from Fund VI and continue its focus on investing primarily in private companies, with a flexible mandate that also enables public company investments. The addition of Fund VI brings the firm’s total capital raised since inception to $5 billion.
An investor in companies such as Toast, Alibaba Group, Delivery Hero, Duo Security, Grafana, Spotify, Benchling, and Wise, LEC invests in growth-stage software, internet, consumer, and tech-enabled service businesses globally. LEC has participated in recent notable funding rounds for companies such as Workiz, LaunchDarkly, ID.me, Material Bank, Hinge Health, Copado, SafeSend, Yousign, and more. Since its founding in 2009, the firm has had over 50 exits, with recent liquidity events including FIGS (IPO), Asana (Direct Listing), Bumble (IPO), and Signal Sciences (Acq. by Fastly).
“With the help of our dedicated LP base, we’ve taken an innovative, hands-on approach to support founders and differentiate ourselves,” said Mitchell Green, Founder and Managing Partner of Lead Edge Capital. “Fund VI will be an extension of this strategy, continuing to drive results for portfolio companies and build a network of global leaders to serve the next generation of software, internet, and consumer service businesses.”
LEC’s LP network consists of more than 500 accomplished executives and entrepreneurs who have built, run, and invested in some of the world’s most successful companies. Lead Edge’s LPs leverage their extended networks and deep knowledge bases to assist portfolio companies throughout the investment lifecycle. Limited Partners come from companies including Charles Schwab, Capital One, Disney, NetSuite, Colgate-Palmolive, eBay, Microsoft, Xerox, Unilever, Google, Cisco, Saks, Autodesk, Intuit, ESPN and many more.
"Not only is the Lead Edge Capital team well-connected, but they're also ready and willing to roll up their sleeves and do whatever they can to help their portfolio companies," said Dug Song, former CEO of Duo Security. "I had the opportunity to work with the team starting in 2015 as a founder – fast-forward to 2022, I'm looking forward to working alongside the team as an LP and providing their portfolio companies the same level of guidance that we benefited from at Duo."
About Lead Edge Capital:
Lead Edge Capital is a growth stage investment fund with $5 billion of capital raised since inception, and portfolio companies across the internet, software, consumer, and tech-enabled services sectors – including Alibaba Group, Asana, Bazaarvoice, Benchling, Duo Security, Signal Sciences, Spotify, Toast, and Wise. Lead Edge Capital offers its entrepreneurs flexible capital and extensive domain expertise via its robust Limited Partner Network, a global advisory group of leading executives, entrepreneurs, and dealmakers who have built and run some of the world’s most successful companies. Lead Edge Capital leverages its LPs to connect companies with the customers, partners, talent, and advisors needed to accelerate success. Lead Edge Capital was founded in 2009 and has offices in New York City and Santa Barbara, California.
