BondThe growth-stage firm, which exited the Kleiner Perkins Digital Growth Fund in late 2018, is closing a second fund with $ 2 billion, suggests a new SEC filing It states that the amount has not yet been raised, although investment firms sometimes file their paperwork in the final stages of their fundraising and even longer after that.
Axios first cleared the paperwork.
Earlier today, we reached out to the firm that closed its first fund $ 1.25 billion In 2019 – looking forward to more information. But that bond would have been increased nearly twice because his second vehicle is uncertain for several reasons. For one thing, the organization, sliced by former investment banker Mary Meeker – who left Kleiner, along with other alums from the firm, including Mood Roughney, Noah Kannauf, Juliet de Bubgen, Devon Chai and Paul Vronsky – increased their investment There is a roster.
Most notably, late last year the firm brought in Jay Simons to lead its global enterprise practice. As the former president of Simmons Atlassian, he knows a thing or two about scaling a business, the maker of business development and collaboration software that went public in 2015 at a valuation of $ 4.3 billion and is now on the market for about $ 57 billion. Claims the cap. (Simmons joined the organization as VP of its sales in 2008 and was promoted to the presidency three years later, spending the next nine years in that role before last summer.) According to LinkedIn, the firm has set aside a more Alex, a junior investor, is hired. Knight is a Yale graduate and former Stanford Business School student based in New York.
Bond’s team has also supported the types of brands that institutional investors like to see in a portfolio, with growth-stage bets while the clincher includes Slack, Uber, Snap and Waze, and a few other big and growing. Current bets through bonds. world. Among these is Baiju of India, which is one of the largest ad tech companies in the world and whose founders want Make company public In the next year or two; London-based online bank Revolut, valued at $ 5.5 billion by private investors as of a year ago and said last month that it eventually aims to go public through a Traditional American IPO; And Canva, an Australia-based design platform for non-designers that was valuable $ 6 billion During its last funding round in June of last year.
Of course, a third reason is that the bond is accumulating large amounts of money in the market, which is still moving around in the market, and seems more eager to find its way into late-stage deals , Especially being brought by more companies. In the public market at jaw dropping prices.
One of Bond’s portfolio companies, for example, Nextdoor, was last valued by private investors as $ 2.2 billion in 2019. According to Bloomberg, the company, which has raised $ 470 million in total, began publicly considering options in an appraisal several months ago. Within the scope of $ 4 billion to $ 5 billion.
In total, the bond has used its first fund to invest in about 20 companies. Among its latest bets is Locus Robotics, a nearly seven-year-old, Wilmington, Ma.-based company that builds autonomous mobile robots for warehouses and which last month received $ 150 in Series E funding at a post-money valuation of $ 1 billion. Announced million. Co-led by Tiger Global Management and Bond.
according to a December report In the information, Bond led the newest round for the portfolio company Armored, Which develops software that helps companies such as Dropbox and MasterCard to create and manage business contracts. According to The Information, the bond led to a Series D round of at least $ 100 million for the company, at a subsequent valuation of more than $ 950 million, more than double its valuation since late 2019 .