Emergence Capital has announced the closing of its seventh fund, totaling $1 billion, as reported on Tuesday. This marks the firm’s first fundraise in nearly four years. Previously, in May 2021, the San Mateo, California-based venture firm secured nearly a billion dollars in capital commitments across two funds.
At that time, Emergence Capital concluded its sixth early-stage fund with $575 million and introduced an opportunity fund for the first time, securing $375 million in capital commitments.
Founded in 2003, Emergence Capital has traditionally concentrated on enterprise technology startups. Recently, the firm has shown a strong interest in artificial intelligence, with general partner Joe Floyd describing it as a “generational opportunity for AI investing.”
Throughout its history, Emergence Capital has invested in companies such as Bill.com, Salesforce, Gusto, Zoom, and Box.
Since 2007, Stanford University has been a supporter of Emergence Capital. Rob Wallace, CEO of Stanford Management Company, expressed that Emergence’s investors are careful and that the firm is staffed by deep domain specialists in SaaS and software.