Fund Structure
Late Stage
Venture investments in mature, scaled companies — typically Series C and beyond — that have proven business models and are approaching IPO or acquisition.
Late-stage venture investing targets companies that have achieved significant scale and are approaching major liquidity events. Late-stage rounds (Series C, D, E, pre-IPO) typically range from $50M to $500M+. At late stage, investors have much more data to evaluate: revenue, margins, growth rate, competitive dynamics. Risk is lower than early stage but so are the multiples. Late-stage investors include crossover funds (Fidelity, T. Rowe Price), growth equity firms (General Atlantic, Tiger Global), dedicated late-stage VC funds (IVP, Meritech), and sovereign wealth funds. The post-2021 correction hit late-stage valuations hardest — many companies raised at peak 2021 valuations and struggled to grow into those marks.