The new fund, which Metamorphic Ventures claims to be “just shy of $70 million,” signals a shift for the firm; the company says that it will now look beyond seed stage companies. Metamorphic Ventures made clear that it will consider both existing portfolio companies and newcomers for later-stage rounds.
In addition to fresh capital, Metamorphic Ventures announced the addition of new executives to its advisory board. New advisors include Google vice president of sales John McAteer, Yahoo director of product management Robby Stein, and HSN chief Mindy Grossman.
As you might expect from the above advisors, Metamorphic plans to focus on “digital media and commerce,” according to the release.
“Our thesis is to invest in companies at the intersection of digital media and commerce; incorporating payments, marketplaces, adtech, software infrastructure, and other internet-enabled businesses.”