Plaza Ventures is pleased to announce the final close of PV Fund IV, which received the largest amount of support from individual investors in our history.
PV Fund IV represents a planned expansion of our annual capital base, in order to extract more value from our growing portfolio by follow-on investing of our pro-rata rights and more. Half of Fund IV’s capital is for successful growth stories in the portfolio, and half for net new investments.
This is a new model in venture capital, with annual fundraises partially targeted to prior funds’ portfolio companies. Rather than keeping funds in reserve for follow-on, which can lead to the “rich uncle” syndrome, each portfolio follow-on investment must be merit-based as decided by a different financial partnership.
We expect PV Fund IV to be fully allocated by July 2018. To date, the Fund has made eight investments, with an additional one to be announced shortly. Of these investments, five are follow-on portfolio investments (FanXchange, MMB Networks, Mobify, Q4, StackAdapt), and three are investments in new companies (Busbud, CareGuide, Hubba).
To learn more about PV Fund IV’s investments, check out our Portfolio pages.