SAN FRANCISCO--(BUSINESS WIRE)--Ridge Ventures (“Ridge”), an early-stage venture capital firm specializing in Seed and early Series A enterprise software investments, announced today that it has successfully closed its fifth fund, Ridge Ventures V, L.P. (“Ridge V”) and related entities, with $180 million in total capital commitments, exceeding its initial fundraising target and marking the largest fund in the history of the firm.
With the closing of Ridge V, Ridge’s total assets under management (“AUM”) now exceeds $540 million. This is a substantial amount relative to other sector-focused Seed firms, and includes significant commitments from leading institutional investors. The fund will continue to pursue Ridge’s longstanding, specialized strategy of investing in Seed and early Series A financing rounds for post-product, pre-product-market fit enterprise software companies started by experienced founders. This focused strategy has generated investments in successful companies, such as Braze, Krux, Bolt, Discord, Fastly and many others, over four predecessor funds.
Ridge is actively deploying the fund, with recent portfolio investments including Seed rounds in Theom, Streamline AI, Aeqium, Kibsi, Arya, and several unannounced investments.
Commitments to the fund were secured from a diverse and global set of limited partners—many of them longstanding Ridge investors —including leading foundations, health systems, family offices, fund-of-funds, consultants, private wealth platforms, and insurance companies, with over 85 percent of capital commitments coming from institutional LPs. Additionally, over 30 Ridge founders invested in the fund, as well as a large number of CXOs from the proprietary Ridge Revenue Network, a consortium of Fortune 500 CIOs and CMOs that connects Ridge founders to potential customers.
"We are grateful for the support and confidence from our longstanding investors as well as many new limited partners," said Alex Rosen, Managing Partner at Ridge. "We see significant investment opportunities in today’s market as we continue to focus on supporting experienced founders addressing substantial enterprise needs in infrastructure, developer tools, the API ecosystem, artificial intelligence, cybersecurity and corporate SaaS. This fundraise will enable us to continue our strategy of collaborating with founders building innovative and scalable enterprise software companies.”
Cooley LLP served as legal counsel for the fund.
About Ridge Ventures
Ridge Ventures is a leading specialist venture capital firm, with over $540 million in assets under management. The firm invests in early-stage, innovative companies operating exclusively in the enterprise software sector. Ridge backs experienced entrepreneurs who trust their own vision and voice, and want venture support rooted in mutual trust that serves them as people first, founders second. The firm is headquartered in San Francisco, CA and has offices in Austin, Texas.
For more information, visit www.ridge.vc.