{{Short description|American venture capital firm}} {{Infobox company | name = Craft Ventures LLC | logo = Craft Ventures Logo.png{{!}}class=skin-invert | type = Private | foundation = {{Start date and age|2017}} | founders = {{ubl |David O. Sacks | Bill Lee}} | location = San Francisco, US | industry = Venture capital | products = Venture capital | assets = $850 million | num_employees = }}
'''Craft Ventures LLC''' is an American venture capital firm based in San Francisco which makes early stage venture investments. Craft was founded in 2017 by David O. Sacks and Bill Lee.<ref name="Axios 2018">{{cite news | last=Primack |first=Dan |title=David Sacks teams with Bill Lee to raise $350 million VC fund | website=Axios | date=4 January 2018| url=https://www.axios.com/david-sacks-teams-with-bill-lee-to-raise-350-million-vc-fund-1515111045-5efbe6bc-63bc-42b8-92fa-82d8b61216ed.html | accessdate=3 June 2018}}</ref>
==Background== Craft was founded in 2017 by David O. Sacks, formerly of Yammer and PayPal<ref name="WSJ1018">{{cite web|author=Chernova, Yuliya|url=https://www.wsj.com/articles/david-sacks-looks-to-raise-up-to-500-million-for-second-craft-ventures-fund-1540788790?tpl=venturecapital|title=David Sacks Looks to Raise Up to $500 Million for Second Craft Ventures Fund |work=The Wall Street Journal|date=29 October 2018}}</ref> and Bill Lee,<ref name="Axios 2017">{{cite news | last=Primack | first=Dan | title=Ex-Zenefits CEO David Sacks raising VC fund | website=Axios | date=6 October 2017| url=https://www.axios.com/ex-zenefits-ceo-david-sacks-raising-vc-fund-1513306013-d12d6a6b-9222-4617-8202-7ed419852fb9.html | accessdate=3 June 2018}}</ref><ref name="Jackson 2018">{{cite news | last=Jackson | first=Eric | title=Ex-PayPal executive David Sacks explains how his new company will change crypto trading | website=CNBC | date=6 February 2018| url=https://www.cnbc.com/2018/02/06/ex-paypal-david-sacks-on-craft-fund-and-harbor.html | accessdate=3 June 2018}}</ref> formerly of Remarq and Big Fish Games. Jeff Fluhr,<ref name="Bloomberg">{{cite web|url= https://www.bloomberg.com/research/stocks/private/person.asp?personId=10871195&privcapId=137079217 |title=Jeff Fluhr|publisher=Bloomberg|accessdate=1 November 2018}}</ref> founder and former CEO of StubHub, joined as a general partner in 2018 and Sky Dayton, founder of EarthLink and Boingo Wireless, joined as venture partner the same year.
Craft announced its first fund of $350 million in January 2018<ref name="This Week in Startups">{{cite news | last=Calacanis |first=Jason |title=David Sacks Craft Ventures $350m raise, big Bird bet, VR, crypto, Yammer, Zenefits, investing | website=This Week in Startups | date=20 July 2018| url=https://soundcloud.com/twistartups/twist-e838 | accessdate=24 August 2020}}</ref> and its second fund of $500M in October 2019.<ref name="TechCrunch">{{cite news | last=Loizos |first=Connie |title=David Sacks's Craft Ventures just closed its second fund with $500 million | website=Techcrunch.com | date=15 October 2019| url=https://techcrunch.com/2019/10/15/david-sackss-craft-ventures-just-closed-its-second-fund-with-500-million/ | accessdate=24 August 2020}}</ref>
==Funds== Craft Ventures I ($350 million) was raised in 2017.<ref>{{Cite web|title=CRAFT VENTURES I, L.P. :: California (US) :: OpenCorporates|url=https://opencorporates.com/companies/us_ca/201729300012|access-date=2021-10-30|website=opencorporates.com}}</ref><ref>{{Cite web|title=Craft Ventures I {{!}} Palico|url=https://www.palico.com/funds/craft-ventures-i/946a30fa881147d38cb089e49e107f63|access-date=2021-10-30|website=www.palico.com}}</ref>
Craft Ventures II ($500 million) was raised in 2019.<ref>{{Cite web|title=Craft Ventures II {{!}} Palico|url=https://www.palico.com/funds/craft-ventures-ii/1c5ddb8d32d8405e942eb3e002df3b39|access-date=2021-10-30|website=www.palico.com}}</ref>
In August 2021, Craft announced the closing of Craft Ventures III ($612 million) and Craft Ventures Growth I ($510 million), focusing on SaaS businesses and marketplace businesses.<ref>{{Cite web|last=Fluhr|first=Jeff|date=2021-08-04|title=Announcing Craft III: $1.1 Billion for SaaS and Marketplaces|url=https://medium.com/craft-ventures/announcing-craft-iii-1-1-billion-for-saas-and-marketplaces-c3c34448db17|access-date=2021-10-30|website=Craft Ventures|language=en}}</ref><ref>{{Cite web|date=2021-08-14|title=Craft Ventures Launches its $1.2 Billion Fund for SaaS and Marketplace Startups|url=https://www.crowdfundinsider.com/2021/08/179025-craft-ventures-launches-its-1-2-bn-funds-for-sass-and-marketplace-startups/|access-date=2021-10-30|website=Crowdfund Insider|language=en-US}}</ref>
In November 2023, Craft announced the closing of Craft Ventures IV ($712 million) and Craft Ventures Growth II ($608 million).<ref>{{Cite web |last=FinSMEs |date=2023-11-14 |title=Craft Ventures Raises $1.32 Billion for Two Funds |url=https://www.finsmes.com/2023/11/craft-ventures-raises-1-32-billion-for-two-funds.html |access-date=2024-06-05 |website=FinSMEs |language=en-US}}</ref>
== Notable exits == {| class="wikitable" |+ !Company !Year of investment !Investment type !Exit<ref>{{Cite web|title=Craft Ventures {{!}} Our Portfolio|url=https://www.craftventures.com/portfolio|access-date=2021-06-11|website=www.craftventures.com}}</ref> |- |CloudKitchens |2017 |Series A (Co-Lead) |Acquired by 10100 in 2019 |- |Harbor |2017 |Seed |Acquired by BitGo in February 2020 |- |Lumina |2018 |Seed (Lead) |Acquired by BitGo in April 2020 |}
== References == {{reflist}}
Category:Financial services companies established in 2017 Category:Venture capital firms of the United States Category:2017 establishments in California Category:Companies based in San Francisco