Fifteen months after closing its fourth venture capital fund at $450 million — and seven months after its highest-profile portfolio company to date, Twitter, went public — Boston-based Spark Capital is out seeking a new investment fund of $375 million.
The firm filed its plans to raise the fund, described only as a “growth” venture capital fund, on Tuesday.
Growth funds are often distinguished from typical venture funds by targeting investments into companies that have already gotten traction and are looking to scale up, rather than focusing on investments into untested early-stage startups.
Spark has yet to raise any money for the new fund, according to the filing with the US Securities and Exchange Commission.
Update: Spark’s Bijan Sabet has disclosed that the new fund has actually been raised. (See related story: Spark Capital adds Jeremy Philips, officially announces Spark Growth.)
Along with the successful Twitter IPO in November, other recent wins for Spark have included Facebook’s $2 billion acquisition in March of virtual reality technology company Oculus VR — of which $380 million went to Spark following the firm’s $19 million investment into Oculus, according to Bloomberg.
Spark was also a backer of Tumblr, which Yahoo acquired for $1.1 billion a year ago.
In Boston, Spark portfolio companies include Wayfair, Jana, Consumer United, RunKeeper, and Superpedestrian. The VC firm also backs New York City’s Timehop and Biz Stone’s most recent project, Jelly.
Image of Twitter logo on the NYSE via Shutterstock.