Hedge fund D.E. Shaw received commitments worth $450M from investors toward its first standalone VC fund called D.E. Shaw Voltaic Fund.
The fund intends to back post-seed and growth-stage startups over the next two years. D.E. Shaw will focus its investments in the enterprise, software security, AI, and consumer internet sectors. The fund closed below its initial target of $500M.
- In addition to the VC fund, the firm closed a $650M private credit fund called D.E. Shaw Diopter Fund.
- The
firm raised $1.1B in total for the two funds from investors, of which
$150M was contributed by D.E. Shaw's entities, principals, and
employees.
- D.E. Shaw has over $60B worth of assets under management (AUM).
- D.E. Shaw intends to capitalize on the decline in startup valuations.
