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Alternative Assets  + VC  |  October 17, 2023
Innovation Endeavors Amasses $600M for Emerging Tech Fund
Joe Palmisano
By: Joe Palmisano

Innovation Endeavors Amasses $600M for Emerging Tech Fund

Former Google CEO Eric Schmidt’s venture capital firm, Innovation Endeavors, has raised $600 million for its fifth flagship fund.

The firm invests in a variety of developing technologies, including climate, computing infrastructure, the physical economy, artificial intelligence, and supply chains.

Schmidt, Scott Brady, and Dror Berman co-founded Innovation in 2010. The firm seeks to invest in startups at the seed and Series A stages, often committing between $1 million and $15 million at the outset. According to a US SEC filing, the firm has 85 limited partner commitments.

Schmidt was Google CEO between 2001 and 2011, and also founded VC firm Tomorrow Ventures.

The firm has met its fundraising goal, but the document does not state if the vehicle is now closed. Innovation already raised $500 million for the fourth flagship fund’s final closing in 2021.

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Innovation Endeavors

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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