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Longtime New York - base ejaculate investor , Contour Venture Partners , is making progress on its previous flagship stock .
The business firm shut on $ 42 million , raise from 64 backers , for Contour Venture Partners Fund V , consort to anSEC filingfrom May 17 . The house istargeting $ 90 millionfor its 5th flagship fund and started fundraise in May of last yr , the filing enjoin . It had antecedently raised $ 20 million of that as part of a separate parallel stock , according to afiling from last December .
Contour Venture Partners refuse to remark .
It ’s been a bad few year for venture fund looking to fire new vehicles . In the retiring year , VCs , includingDCVC , Tiger GlobalandFounders Fund , have also lowered their fundraising expectations . Venture fundraising was down more than 50 % last twelvemonth compared to 2022 ’s disk - breaking class , allot to PitchBook data .
Contour writes checkout between $ 500,000 and $ 1.5 million and prefers to lead round in seed and other - stage caller . The firm focus on sectors such as SaaS , digital medium and fiscal services and has a penchant for companies based in New York or in the Northeast .
While Contour is n’t equip with a war breast of capital like some seed firms , it has build a cartroad phonograph recording of induct in firm companies .
The firm was one of the first checks into cloud analytics platform Datadog in 2011 , which went on to IPO in 2019 with a $ 7.8 billion valuation . Contour backed loaning - focalise fiscal platform OnDeck in 2006 , which has struggled in recent class but had a notable going when it went public in 2014 with a $ 1.3 billion valuation .
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Contour ’s active portfolio includes Cartesian product intelligence operation platform Pendo , which has farm more than $ 460 million in speculation funding and was last valued at $ 2.6 billion . The company is also an investor in Movable Ink , a content personalization inauguration that has raised most $ 100 million and was last respect at $ 1.3 billion .
The nearly 20 - class - old firm has elevate more than $ 370 million since its founding in 2005 across four flagship funds and three opportunity fund . The firm is still led by its two launch partners , Matt Gorin and Bob Greene .
Correction : This piece and its headline have been updated to reflect the cosmos of a parallel $ 20 million investment company , which counts as part of the original $ 90 million Contour set out to raise .
