“Spur, a Fund of Funds, Targets $200M to Bet on Early-Stage Venture Capital in Economic Downturns”
Investor Seeks to Back Early-Stage Venture Firms in Uncertain Times
Spur Capital Partners, a well-established investor in venture capital funds, is currently raising $200 million for its seventh core fund. According to a recent securities filing, the firm has secured nearly $74 million so far, with plans to invest in early-stage venture firms. Despite the challenging economic climate, Spur remains optimistic about the potential for high-growth startups.
Indirect Backing of High-Profile Companies
Over the years, Spur claims to have indirectly backed dozens of prominent tech and life science companies at the early stage. These include well-known brands such as Airbnb and Anduril, a leading manufacturer of advanced weapons systems. However, when asked for the names of the VC firms in its portfolio, Spur did not provide any information.
Investment Strategy and Portfolio
Spur has been actively raising capital for its seventh fund for over a year, with at least 40 unnamed investors already contributing to the fund. The firm’s limited partners include pension plans and family offices from both the U.S. and Europe. With more than $1.2 billion in assets under management, according to PitchBook, Spur is well-positioned to continue its successful investment strategy.
Betting on VCs in a Downturn
The current economic climate presents significant challenges for startups and venture capital firms alike. Reactionary startups are laying off workers, while even giants like Google are scaling back their operations. Despite these difficulties, VC firms have more cash to spare than ever, but rising interest rates and other factors are driving a renewed focus on profitability.
Rising Interest in Funds of Funds
As a result, there is a growing trend towards funds of funds that focus on backing early-stage venture firms. This strategy allows investors to tap into the expertise and networks of experienced VC firms while minimizing their exposure to individual startups’ risks. Even in uncertain times, investors remain eager to capitalize on emerging opportunities.
The Future of Venture Capital
As Spur continues to raise capital for its seventh fund, it is clear that the investor remains committed to backing early-stage venture firms. With its extensive network and significant resources, Spur is well-positioned to identify and support promising startups in the tech and life science sectors.
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About the Author
Harri Weber is a senior reporter at TechCrunch covering climate. Her work has also appeared in Gizmodo, Fast Company, VentureBeat, dot.LA, Input, and The Next Web.
Contact Harri Weber:
harri@harri.fm
