Runa Capital, a Palo Alto-headquartered venture investment firm with Russian roots, has closed $70mn for its third fund targeting early-stage “deep tech” startups, reports East-West Digital News (EWDN).
The firm started to market this fund a year and a half ago, seeking to raise some $135mn essentially from its existing LPs.
Launched in 2011, Runa Capital’s first fund targeted essentially Russian startups; but the firm quickly switched to a global strategy.
Runa launched its second fund in 2014, ultimately raising $135mn. So far, Runa funds invested in over 60 companies from 12 different countries. Among its exits were, as noted by TechCrunch, the French mobile app analytics Capptain (acquired by Microsoft), mobile banking startup Final (acquired by Goldman Sachs), web server NGINX (acquired by F5 Networks earlier this year for $670mn). The most recent exit was Acumatica, acquired just weeks ago by PE fund EQT Partners.