Cisco-Backed Acrew Capital Has $680 Million in New Venture Funds

Acrew Capital is getting into late-stage investing with a new $300 million diversity-focused investment fund.

The firm, whose team has invested in Coinbase Global Inc. and Discord Inc., has also raised an additional $380 million early stage fund. With the new funds, Acrew now has close to $1 billion under management, the company said in a statement provided to Bloomberg News.

Acrew was started in 2019 by former Aspect Ventures partners, including Theresia Gouw and Lauren Kolodny, who are founding partners. The team has continued its strategy of investing in financial technology businesses like Chime Financial Inc. and is ...