Venture Capital: San Diego's Anzu Partners Raises $200M for its Third Fund
Anzu Partner's Co-Founder and Managing Partner David Michael discusses raising its third fund, the firm's portfolio performance and investing in San Diego.
Learn from San Diego's top entrepreneurs and companies. Every week, I write a newsletter breaking down the business and money in San Diego. Join 900+ tech professionals, entrepreneurs, and investors by subscribing below.
Anzu Partners, a venture capital firm, has raised $200 million for its third venture fund, to continue backing startups in clean technology and life sciences industries.
Limited partners in the new fund include new and returning public and private institutions, single and multifamily offices, and accredited investors globally.
The fund is the largest to date, and now has $1 billion assets under management.
I spoke with David Michael — who helped co-found Anzu Partners in 2014 — about fundraising in today’s high interest rate environment, its recent portfolio companies, and its recruiting strategy in San Diego.
“We’ve raised more than our second fund, so we're very happy about that.” said Michael in a phone interview last Thursday. “It's more than $200 million. And that reflects confidence and support from a group of institutional investors both pre-existing and new. There is real interest in the themes that we are pursuing, and have already invested in several companies out of fund III.”