Kensington Capital Partners is pleased to announce an investment by the Kensington Venture Fund to Sierra Ventures Fund XI. This is the firm’s eleventh investment fund, it was oversubscribed raising US$170 million. Sierra has raised over $1.9B in capital and has provided funding to over 225 companies.
Sierra Ventures Fund XI is focused on early stage companies targeting enterprise and consumer technology markets with disruptive technologies. Similar to their previous fund, the management team will continue to fund companies within the enterprise software, connected devices, and consumer marketplace sectors that address consumer and enterprise needs. They will focus on seed, Series A and Series B investments.
A differentiating factor of Sierra’s is their CXO Advisory Board, an invitation only group of leading CIOs, CTOs, CMOs, COOs from Fortune 1000 executives across a variety of industries and geographies including Facebook, Merck, Dell, Accenture, Emirates, Comerica Bank, Coca Cola Enterprises, Cisco, Citi, IBM, HP, MLB, Starbuck and many more. They meet regularly throughout the year and provide insights and advice to Sierra’s portfolio companies. These leaders represent companies that are the core customer base of Sierra’s software portfolio companies.
Based in San Mateo, California, the Sierra Ventures team is led by partners Mark Fernandes, Tim Guleri and Ben Yu.