Venture capital firm Sierra Ventures has received LP commitments from several undisclosed corporates to reach a $215m close.

US-based venture capital firm Sierra Ventures achieved the $215m final close of its twelfth fund yesterday following limited partner commitments from unnamed corporations, endowments and pension funds.

The oversubscribed vehicle, Sierra Ventures XII, will invest globally with a focus on next-generation enterprise and emerging technologies, such as big data, fintech, artificial intelligence (AI), machine learning (ML), cybersecurity, augmented reality (AR) and virtual reality (VR).

Sierra’s main focus is on seed and series A stage investments, though the firm said it…