Commerce Ventures Fund V has received corporate backing from 20 investors such as Intuit and StepStone Group.
Photo courtesy of Commerce Ventures
US-based venture capital firm Commerce Ventures has raised more than $150m in committed capital for its fifth fund.
The oversubscribed fund, dubbed Commerce Ventures Fund V, is backed by 20 corporate investors, including Intuit, USAA, Franklin Park and StepStone Group.
The fund targets the next generation of founders building platforms for retail and financial services.
“We’re excited to continue our partnership with Commerce Ventures,” said Anton Hanebrink, chief corporate strategy and development officer at Intuit, in a press statement. “Their insights on emerging trends have shaped our thinking, and we’ve ended up working closely with several of their portfolio companies.”
Founded in 2013, Commerce Ventures has invested in over 100 companies and had more than 30 exits, including payment processing company Marqeta, which exited via IPO on NASDAQ in 2021.
