The tech world is starting to feel more hopeful about startup opportunities, and one venture capital firm is gearing up for the future by raising a large fund.
Quiet Capital, based in San Francisco, has raised $377 million for its third fund, according to a filing made last week. The firm’s founder, Lee Linden, hasn’t responded to requests for comments, and there’s no phone number listed on the filing for more details.
Despite its low profile, Quiet Capital has been busy backing early-stage tech companies since it was founded in 2017. Some of its big early investments include the HR platform Rippling and MasterClass, the platform where celebrities teach courses.
Linden, who used to work at the famous venture firm Kleiner Perkins, also founded Karma, a gift-giving app that was acquired by Facebook in 2012. He went on to lead Facebook’s commerce team. Quiet Capital invests in various industries, including AI, crypto, and healthcare.
While venture capital has been on a decline since the record-breaking year of 2021, there are still signs of life. The rise of crypto and AI has kept many investors interested, with billions of dollars still flowing into these areas.
Quiet Capital’s new raise of $377 million is one of the largest this year for early-stage funds, following Forerunner Ventures’ $500 million fund announcement earlier this month.
Quiet Capital’s third fund, Quiet Venture III, began raising money in November 2022. It’s unclear if they are still raising funds for this round. In their previous fund raised in 2021, they raised nearly $479 million out of a $500 million target.
Just last week, Quiet Capital led a $12 million seed round for Mach9, a company that uses AI to create maps. They’ve also invested in other innovative companies, like Standard Bots, a robotics company, and The Bot Company, a robotics startup founded by Kyle Vogt, the former CEO of Cruise.
