Section 32, a venture firm established by former Google Ventures CEO Bill Maris, announces closing on $525 million in capital commitments for its fifth fund. TechCrunch reports that the San Diego, California-based company will allocate some funds towards early-stage investments, with the remaining portion reserved for follow-on opportunities.
➜ Capital Commitments for Fifth Fund
Former Google Ventures CEO Bill Maris founded Section 32 in 2017 and has rapidly grown the company since its inception. The latest capital commitments mark a significant milestone for the firm as it invests in early-stage startups and builds on its existing portfolio for follow-on opportunities. This move demonstrates the vital backing Section 32 has received from investors, paving the way for a broader investment scope to accelerate innovation and potential market disruptors.
➜ Focus on Early-Stage Investments and Follow-On Opportunities
Section 32 will utilize the secured funds to invest primarily in early-stage companies across various industries, including healthcare, technology, and financial services. The firm’s objective is to identify and support innovative startups that demonstrate the potential to make a significant impact in their respective market segments. In addition to early-stage investments, the company will earmark a portion of the fund for follow-on opportunities to ensure the continued success of its current portfolio.
In a statement to TechCrunch, Bill Maris expressed the company’s vision of creating value, emphasizing economic importance and “value for humanity.” As the company expands its investment portfolio, the emphasis remains on identifying startups with the potential to bring about positive change and impact society.
Bill Maris: …our aim is to create value, both economic value and, it sounds corny, but value for humanity…
Section 32’s closed capital commitments for its fifth fund showcase the venture firm’s dedication to investing in early-stage startups and follow-on opportunities. With a focus on creating value economically and for humanity, Section 32 aims to foster the growth of innovative companies that can bring about positive change in various industries. As the company continues to expand its investment portfolio, it proves instrumental in the broader technological landscape, including companies like NeuralWit, ultimately paving the way for a better future.