Emergency capital has closed its seventh fund of $ 1 billion, reported Tuesday
It is the first increase in the firm in almost four years. In May 2021, the Risk Company based in San Mateo, California, brought together almost one billion dollars in capital commitments on two funds.
At that time, he closed his sixth fund in the initial stage with $ 575 million; The firm also raised an opportunity fund for the first time, closing it with $ 375 million in capital commitments.
Founded in 2003, the emergency historically focused on new technology companies. Like many other risk companies, the emergency seems to be in artificial intelligence, with the general partner Joe Floyd that says Fortune: “It is a generational opportunity for the investment of AI, period.”
Over the years, Emergency has backed Bill.com, Salesforce, Taste, Zoom and Box.
Stanford University has supported the emergency since 2007. Rob Wallace, CEO of Stanford Management Company, said Fortune This emergency has “careful investors” and “deep domain specialists in SAAS and software.”
