Early stage business tech investor Rally Ventures has hit a $250m final close for its fourth flagship fundraise.
The firm targets seed and Series A investments in enterprise tech-focused startups working across areas including cloud infrastructure, fintech, ‘SaaS-plus’ and security.
Rally’s new fund closed above target, and is significantly above the $150m it collected for Fund III in 2018.
Jeff Hinck, co-founder and partner at Rally, said, “We are committed to investing in the fastest-rising business technology entrepreneurs, and the close of Rally IV allows us to support founders who are changing the way the world works.”
Hinck founded Rally with Charles Beeler in 2012. The pair have worked together for more than 20 years, including several years together at El Dorado Ventures.
Rally Ventures welcomed its third partner, Justin Kaufenberg, late last year, bringing him in from portfolio company SportsEngine, where he was CEO.
Investments from Rally to date include Carbon Black, Coupa, Twistlock and Verodin.
Beeler said, “2020 has been a year of significant turmoil and change. We’re looking forward to working with the next group of industry-altering entrepreneurs and helping them navigate the rapid changes taking place across markets.
“Our strategy is built for all market cycles, and we have a strong history of success with early-stage companies regardless of the overall market environment. We’re optimistic about the future and very excited for the next chapter.”
Copyright © 2020 FinTech Global