Playground Global Closes $410M Fund for Deeptech Ventures
Playground Global, a Palo Alto, CA-based early-stage venture capital firm investing in entrepreneurs who have developed breakthroughs in frontier technologies, raised $410 million in new capital for its third fund.
This fundraise lifts the firm’s assets under management to more than $1.2 billion.
Founded in 2015 and led by general partners Matt Hershenson, Laurie Yoler, Bruce Leak, Peter Barrett, and Jory Bel, the firm aims to accelerate the time-to-impact for innovative technologies in computing, automation, infrastructure, logistics, decarbonization and engineered biology.
Similar to Fund II, capital deployments in Fund III will focus on Seed and Series A companies with initial investments ranging from $1 million to $20 million.
Playground Global has been an early investor in computing platform d-Matrix, mining technology developers Ideon Technologies, gene editing modalities Amber Bio, therapeutics platform Infinimmune and AI-drive RNA drug discovery company Atomic AI, among others.
“We are witnessing a great acceleration in the development of consequential technologies with entirely new classes of computing, AI, and automation, driving innovation across material science and drug discovery,” said Barrett.
Pictured: Playground Global, Palo Alto, CA headquarters