Deals

Funding Daily: March 27, 2014

Image Credit: Shutterstock

Get all the tech funding news of the day delivered straight to your mailbox! Sign up for Funding Daily and never miss a deal.


Here are the day’s funding stories:

Andreessen Horowitz raises $1.5B

Andreessen Horowitz just announced it has closed its fourth fund at a sizable $1.5 billion. In total over its lifetime, the firm has now raised $4.15 billion. For a VC fund with a reputation for making big bets, this gives A16Z considerably more firepower. Read more on VentureBeat.

True Ventures tacks on $100M

Last month, we learned that True Ventures had raised a quarter of a billion dollars for its fourth startup-investment fund. Well, here’s a fun surprise gleaned from an SEC filing today: The firm just tacked on an extra $100 million, bringing the fund’s total to $350 million. Nice work, True! Read more on VentureBeat.

Lemnos locks down $20M

Lemnos Labs, a San Francisco-based accelerator focused on hardware startups, just closed its second fund, with $20 million — a more than 10x increase from its previous fund, which was $1.85 million. The company typically invests about $100,000 in early-stage companies that need help with hardware-specific issues, like prototyping, materials research, finding manufacturers, or working out industrial design kinks. The new fund will enable those investments to scale up to $250,000. Lemnos provides workshop space and advice in addition to its equity investments, and just moved into a new warehouse location in San Francisco’s arty and startuppy Dogpatch neighborhood. Read more on the Lemnos blog.

Vectra steps out with $17.8M

So Vectra Netoworks locked down $17.8 million in funding before it even launched (which happened today). And they say we’re in a bubble! The startup does network security. Backers include Khosla Ventures, AME Cloud Ventures (former Yahoo CEO Jerry Yang’s fund), and IA Ventures. Read more on VentureBeat.

Realty Mogul announces $9M

Realty Mogul, which just announced a healthy $9 million fundraise, itself, wants to make you a — wait for it — real estate mogul! The startup does something actually cool and mutually profitable: It lets less-rich-than-Trump types get a piece of commercial real estate action. Read more on VentureBeat.

Split takes $1M

Split “helps people avoid awkward encounters” in meatspace. That means you run into someone at a cocktail party. Maybe you were talking crap about them and they found out. Maybe you hooked up with them once. Whatever. It’s awkward. And you are so freaking maladjusted that you need an app to prevent yourself from getting into these situations. You can’t be honest, tactful, or poised. You have to rely on GPS and more to high-tail it in real time. Good freakin’ grief! The app idea is bad enough. The fact that it’s raised $1 million is much worse.