February 5, 2015 / 12:32 PM / in 3 years

Crosslink Capital raises new $170 million fund

SAN FRANCISCO, Feb 5 (Reuters) - Crosslink Capital, the San Francisco investment firm behind companies such as sports blog Bleacher Report and music service Pandora, said it had raised $170 million for a new venture fund, its seventh.

Its previous venture fund, Crosslink VI, raised $220 million in 2010. Partner Eric Chin said the firm planned to invest Crosslink VII more at the seed, or very earliest stages, which requires smaller sums. It will also invest at the next biggest stage, known as Series A.

“We are focused on the pre unicorns,” said partner Eric Chin, using the Silicon Valley slang for companies that quickly grow to valuations of $1 billion or more.

In a separate fund family known as Crossover, Crosslink also invests in private equity and public companies. It specializes in areas such as cloud computing, infrastructure, security, and software. (Reporting by Sarah McBride; Editing by Ken Wills)

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