Source: Bloomberg
Summary
Legendary Ventures has raised $425 million in a new fundraising round, exceeding its usual fund size of around $425 million. The company has been investing in technology, media, and entertainment since 1998. This new fund will be used to back startups and growth-stage companies. According to Bloomberg, the fundraise was oversubscribed. Legendary Ventures has previously invested in companies like Airbnb and Spotify.
Our Reading
The launch follows a familiar script.
Legendary Ventures raises a new fund, because that’s what venture capital firms do. The $425 million is a notable increase, but not a surprising move. The company will continue to invest in tech, media, and entertainment startups. Because that’s what they’ve been doing for 20+ years. Legendary Ventures is just doing more of the same, with more money.
Author: Evan Null
