Plexo Capital, a venture capital spinoff from Alphabet subsidiary GV, has raised $42.5m from LPs that include Alphabet, Intel Capital and Cisco Investments.
US-based venture capital firm Plexo Capital has closed its first fund at $42.5m, having harnessed contributions from a list of limited partners that includes several corporates.
Intel Capital and Cisco Investments, the corporate venturing arms of semiconductor technology provider Intel and networking equipment producer Cisco, joined internet and technology group Alphabet, financial services firm Royal Bank of Canada, Kapor Capital, Hampton University Endowment and Ford Foundation.
Founded in 2017, Plexo participates both as an investor in startup companies and as a fund-of-fund investor in emerging early-stage VC funds.
The firm was incubated within GV, one of Alphabet’s corporate venturing units, and founding managing partner Lo Toney was formerly a partner at GV. It is also looking to widen the diversity within the VC space, and GV intends to source deals through its network.
Toney said: “The Plexo Capital strategy was born out of the desire for a larger consideration set…
