US-based venture capital firm SOSV has secured $277m from limited partners including automotive manufacturer Honda, computing equipment manufacturer HP and alcoholic beverage producer AB InBev for its latest fund.
SOSV IV’s LPs also include wealth managers Tiedemann Advisors and Davy Group, while HP and AB InBev participated through their HP Tech Ventures and ZX Ventures units. Undisclosed university endowments, foundations, fund of funds, family offices and private investors also supplied capital.
Founded in 1994, SOSV runs several accelerator schemes in addition to making direct investments. It also oversees electronic laboratories, wet labs and other facilities for use by portfolio companies.
The firm provides $100,000 to $250,000 for its accelerator participants and between $200,000 and $2m through later rounds, and said most of the latest capital will be committed to later-stage deals.
Sean O’Sullivan, managing general partner of SOSV, said: “This year nearly $1bn went into SOSV-backed companies from VCs and corporate investors.
“On top of the $65m SOSV invests directly into our startups every year, SOSV’s deep-tech startups are getting huge funding leverage from our syndicate of VCs, angels and corporates.”
SOSV’s portfolio includes internet-of-things platform developer Particle, vegan ice cream producer Perfect Day, programmable robot toy developer Makeblock and cultured protein developer Geltor. It had closed its third fund at $150m.
