Tech-Focused VC Shop Nabs $750M For Pair Of Funds

Law360 (March 25, 2020, 3:52 PM EDT) -- Mayfield, a technology-focused private investment firm that has backed the likes of ride-hailing service Lyft and California solar power provider SolarCity, has raised a total $750 million for two funds, the firm said Wednesday.

The new capital brings the firm’s current assets under management to more than $2.5 billion, according to a statement. The two funds are Mayfield XVI, which closed at $475 million, and Mayfield Select II, which closed with $275 million in tow. Mayfield XVI will focus on early-stage venture capital investments, while Mayfield Select II will invest in later-stage rounds for both Mayfield’s own portfolio companies and businesses...

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