Sierra Ventures Launches 12th Fund

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Sierra Ventures has announced it is launching its 12th investment fund.

The early-stage tech focused venture capital firm has raised $215 million to get it started. The fund is oversubscribed and Sierra reports the prior fund’s institutional investors all upped their commitment to the new fund.

The fund managers of Funds X an XI, Tim Guleri, Ben Yu and Mark Fernandes will manage Fund XII. They will steer the fund towards investments in next generation enterprise and emerging tech companies. Key investments will be “transforming and disrupting” startups, focusing on seed, Series A and B level rounds.

“We are very appreciative of the continued support we have received in Sierra XII from our existing investors, as well as excited to add some leading Limited Partners in this fund. We are proud to have some of the best endowments, pension funds and corporations from across the world on our roster,” said Sierra Ventures Managing Director¬†Mark Fernandes, in a statement announcing this new fund’s launch.¬†

Sierra says the new fund is looking to invest in such potential investment opportunities as 5G wireless, crypto/blockchain, AR/VR and robotics.