Playground Ventures — the VC fund co-founded by Android inventor and former Google exec Andy Rubin that sits alongside an eponymous incubator/startup studio and is building some massive bets in places like artificial intelligence and new generations of hardware– is increasing additional income. A Form D submitted with the SEC notes that Playground Ventures is in the method of including another $fifteen million into its coffers. The submitting notes that none of the sum has nevertheless to be raised.
Relatively talking, $fifteen million a modest figure: considering the fact that 2015, it looks like the Playground group, which contains the Playground World-wide incubator and Playground Ventures, has disclosed about $242 million in funding as component of a projected $three hundred million fundraise, and what seems to be a greater strategy to elevate $500 million. We have contacted the corporation to ask if it can elaborate additional on whether this $fifteen million is just one additional phase in that wider exertion, or if it is for another, distinctive function.
Particularly, this newest funding is for “Playground Ventures Affiliate marketers II”. Two previous Playground Ventures filings at the SEC involve Playground Ventures, which is from 2015 and handles the $242 million elevate and Playground Ventures II, which dates from November 2016 and is the submitting to elevate $500 million. We’ll update this as we understand additional.
Notably, en route to increasing $three hundred million to day, Playground has picked up a amount of strategic backers like Google, HP and Foxconn, which alongside one another with some others put in $48 million to the operating full.
Why? All people likes to back again a successful team, and by virtue of Rubin’s encounter with Android and Google, and the impressive backgrounds of some others on the team (such as the creator of QuickTime, the co-creator of Hazard, the creator of the 1st massive video clip codec and a lot of some others), Playground has just one of the most effective observe information around. And having associated at the LP stage presents these firms a prospect to get the job done early on with startups that have the likely to turn out to be massive.
Up to now, Playground has served as a automobile for backing some massive ideas.
The total portfolio now contains deep linking startup Branch, French significant-close audio maker Devialet, driverless tech startup Nauto, the new cell phone corporation Crucial and additional. But not all of them could be flying. Just earlier this 7 days we claimed that AR corporation CastAR seems to have shut down.
In some cases, the firms have been incubated and have Playground’s guidance and community accessibility in exchange for fairness, but no investment. In other cases, Playground has invested.