Haute 100 SF Update: Joe Lonsdale and Formation 8 Raise $450 Million
Palantir Technologies Founder Joe Lonsdale, CMEA founder Tom Baruch and veterans from Khosla Ventures have founded a new Silicon Valley venture fund, Formation 8.
The new investment firm has raised close to $450 million to invest in tech startups focused on enterprise and energy. While their main investment focus is on startups in the Valley, the firm is also active in China, Korea and Singapore, and it hopes to help locals make connections in those Asian markets.
Fortune reports that Gideon Yu, the former Facebook chief financial officer who is now president of the San Francisco 49ers, is a special adviser to the firm. He is joined by fellow Khosla alums at Formation 8, Jim King and James Zhang.
“We’re making a macro bet,”30-year-old Lonsdale told Fortune. “We think SiliconValley is transforming the world. But we also think everything is an Asia play.”
[Source: bizjournals.com]
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