Commerce Ventures’ Formation of Fund IV

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP advised Commerce Ventures on the deal.

Commerce Ventures, a San Francisco, Calif.-based venture capital firm focused on innovations across the retail and financial services ecosystems, closed its fourth fund, at over $150m in committed capital. 

The fund’s investors also include more than 10 current and former public company CEOs and dozens of senior executives and entrepreneurs from across the firm’s industry. In addition to these investors, 25 of Commerce Ventures’ portfolio company leaders invested in this vehicle.

Founded in 2013, Commerce Ventures has established itself as a sector-focused investor in platforms and enablers who are helping incumbents as well as challengers redefine retail and financial services. The firm has invested in over 80 companies since inception, including FinTech platforms such as Bill.com, Forter, Marqeta, MX and Socure and RetailTech companies including leaders in frictionless checkout (Grabango), reCommerce (Trove), post-purchase (Narvar) and embedded insurance (Mulberry). 

With the additional capital, Commerce Ventures will continue to back companies that are transforming how consumers Shop (Retail Tech), Spend (Payment Tech), Save (Banking/Investing Tech), and Secure (Insurance Tech) their assets – collectively referred to as the Commerce Continuum. The firm deploys its investment strategy, investing initially as a non-lead participant in early stage rounds, and then opening its network of strategic individuals and corporate partners to help each company portfolio grow, recruit, and consider strategic options. 

The Gunderson deal team included Javad Mostofizadeh (Picture), Jason Ford and Edward Kocis.

 

Involved fees earner: Jason Ford – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian; Edward Kocis – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian; Javad Mostofizadeh – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian;

Law Firms: Gunderson Dettmer Stough Villeneuve Franklin & Hachigian;

Clients: Commerce Ventures;

Author: Martina Bellini