Playground Ventures — the VC fund co-established by Android inventor and former Google exec Andy Rubin that sits alongside an eponymous incubator/startup studio and is creating some massive bets in locations like synthetic intelligence and new generations of hardware– is boosting far more cash. A Sort D filed with the SEC notes that Playground Ventures is in the approach of introducing a further $15 million into its coffers. The submitting notes that none of the sum has nonetheless to be elevated.
Reasonably talking, $15 million a modest determine: considering the fact that 2015, it appears to be like the Playground group, which features the Playground World incubator and Playground Ventures, has disclosed about $242 million in funding as portion of a projected $three hundred million fundraise, and what seems to be a even bigger system to raise $five hundred million. We have contacted the organization to inquire if it can elaborate far more on no matter whether this $15 million is just one far more segment in that wider work, or if it is for a further, distinct intent.
Specifically, this hottest funding is for “Playground Ventures Affiliates II”. Two previous Playground Ventures filings at the SEC involve Playground Ventures, which is from 2015 and addresses the $242 million raise and Playground Ventures II, which dates from November 2016 and is the submitting to raise $five hundred million. We’ll update this as we understand far more.
Notably, en route to boosting $three hundred million to date, Playground has picked up a amount of strategic backers like Google, HP and Foxconn, which collectively with many others set in $forty eight million in the direction of the working whole.
Why? Anyone likes to again a profitable team, and by advantage of Rubin’s working experience with Android and Google, and the amazing backgrounds of many others on the team (which includes the creator of QuickTime, the co-creator of Hazard, the creator of the initial massive online video codec and numerous many others), Playground has just one of the very best observe records all-around. And getting involved at the LP degree offers these companies a opportunity to function early on with startups that have the possible to turn into massive.
Up to now, Playground has served as a car for backing some massive concepts.
The total portfolio right now features deep linking startup Department, French higher-conclusion audio maker Devialet, driverless tech startup Nauto, the new cellphone organization Essential and far more. But not all of them could be flying. Just before this week we documented that AR organization CastAR seems to have shut down.
In some circumstances, the companies have been incubated and have Playground’s help and community access in trade for fairness, but no investment decision. In other circumstances, Playground has invested.