stitch: That fund around 550 million raised in 2011 has multiplied investors' money roughly 25 times, before fees, according to a person familiar with the returns, according to The Toronto Star. Stitch Fix, a subscription clothing service, was encouraged by Benchmark Capital to hire a financial chief early on. Benchmark Capital is sitting on one of the most profitable venture funds since the dot-com boom after scoring early investments in tech high-fliers Uber Technologies Inc., Snap Inc. and WeWork Cos. Nick Otto/The Washington Post Yet when it raises its next fund, expected by early next year, Benchmark plans to keep it at the same size as it has done since 2004, according to people familiar with the matter, to better concentrate on early-stage investments that are its calling card. Benchmark's rival, Sequoia Capital, is raising the largest-ever fund by a U.S. venture firm at 8 billion, according to a person familiar with the matter, while Soft Bank Group Corp.'s 92 billion Vision Fund has helped spur a record level of investments in late-stage companies. The restraint is unusual given the trend in venture capital to raise ever-larger growth funds to capitalize on highly valued startups delaying public offerings.
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