MENLO PARK — Early-stage venture capital firm BlueRun Ventures (BRV) announced the closing of their sixth fund, BRV VI, at $130 million.
The fund will be used for both seed and Series A rounds focused on mobile software and services, financial technology, and digital health. BRV’s investment thesis is to look for opportunities where data and real time computing can disrupt incumbents and create new category winners.
BRV has led early investment rounds in PayPal, Waze, Coupa and Kabbage. The firm has invested in more than 160 companies.
“BRV’s consistent early stage investment approach is supported by our seasoned base of limited partners, allowing us to fund companies at critical moments in their growth,” said Jonathan Ebinger, General Partner at BlueRun Ventures. “Investing in early stage is a consistent focus for our firm and our role in the venture ecosystem. Our core belief is that targeted funds yield better returns over time. The close of BRV VI is a continuation of our firm’s strategic efforts,” he added.
Since the firm’s inception in 1998, BRV has focused on investing in technologies at the edge of the network (primarily mobile) and in markets ripe for disruption. BRV entrepreneurs have come from all around the world – BRV was one of the first US firms to open local offices in China and Korea. The BRV platform consists of multiple funds managed by dedicated teams based in U.S., China, and Korea. BRV VI is the latest US-focused fund with the mandate to invest in global teams with a go-to-market strategy in the US.
In addition to the close of fund, BRV announced that Cheryl Cheng has been promoted to General Partner. She joins Jonathan Ebinger and John Malloy as general partners at BRV, with a focus on digital health, consumer mobile, and application layer enterprise software.