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Top Tier Capital invests $1.05B in funds and businesses.

Silicon Valley is still attracting investors despite inflation concerns. For instance, San Francisco-based VC and private equity company Top Tier Capital received $1.05 billion more to invest in global venture funds and digital businesses today.

In an email to Eltrys, Top Tier managing partner David York said the additional funding, which comprises Fund X, single-investor funds, and individual accounts, would focus on Europe, the Middle East, and Asia.

“We have enormous confidence in the continued growth of technology globally, as well as our future investment activities,” York added. “The digital economy has grown as part of global GDP, and the strongest companies are often built in uncertain markets. This is an opportunity to expand our organization for the future as we focus on investing as one of the strongest venture franchises.”

Top Tier, created in 2011 by Philip Paul from Paul Capital, invests in VC funds and startups with chosen managers (direct secondary and co-investments). The firm has 400 fund interests, including Andreessen Horowitz, Mayfield Ventures, Creandum, and others, and exposure to over 16,000 venture-backed firms in biotechnology, software-as-a-service, web3, and AI.

Top Tier, with partners in San Francisco, Boston, and London, has raised $3.7 billion from investors across 12 funds and managed over $8 billion in assets since its creation. Corporate performance management platform Anaplan, cybersecurity startup Carbon Black, and cloud app management business Engine Yard went out.

Top Tier’s previous startup bets include Plus One, which builds parcel robot vision systems; Paro, a platform for freelance financial gurus; and Humane, which makes the AI-powered wearable Ai Pin.

Top Tier announced that it is adding Jonathan Biggs, a former SVB money managing partner in London, as an investing partner along with the new money. He and Top Tier’s Michelle Ashworth, who became a partner with Biggs’ hire, will stay in London.

“We know that the current market is different, and we also recognize that innovation is constant,” Top Tier managing director Jessica Archibald said in a news statement. We believe the companies fueling our future are being formed now, and our firm’s extensive sector experience and strong ties make us a particularly valued investing partner.

Eltrys Team
Author: Eltrys Team

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