Greycroft, a leading venture capital firm formed in 2006 that specializes in internet and mobile companies, announced today the closing of its second growth equity fund, Greycroft Growth II.

The fund was again oversubscribed and closed at its hard cap of $250MM of capital commitments. It is the successor to Greycroft Growth I, a $200MM growth fund that closed in 2014.

As part of the formation of the new fund, Dylan Pearce is being promoted to Partner, where he joins Alan Patricof, Dana Settle, Ian Sigalow, John Elton, Mark Terbeek, and Ellie Wheeler.

“We are pleased to announce the promotion of Dylan Pearce to Partner. He has done a terrific job managing the day-to-day operations of Greycroft Growth and closely monitoring our rapidly expanding global set of opportunities,” said Dana Settle, Co-Founder and Partner.

Greycroft is a bi-coastal firm with offices in both New York and Los Angeles, and has built a network in two of the largest markets in the US. As in its previous growth fund, Greycroft will continue to partner with international venture capital firm, e.ventures, with offices in San Francisco, Berlin, Sao Paulo, Beijing, and Tokyo to ensure access to the most exciting growth equity opportunities.

“We conceived of the Growth Fund to enable us to back the best entrepreneurs, irrespective of stage and to support them throughout the life cycles of their companies,” said Co-Founder and Partner, Ian Sigalow.

“Since the inception of Greycroft in 2006, the quantity and quality of exciting new companies has increased dramatically, particularly in the markets we have developed our networks and it seems to only be accelerating.”

Greycroft Growth II will focus on expansion rounds from the firm’s existing early stage venture funds as well as participate in new investments not previously in the portfolio. With the formation of Greycroft Growth II, the firm now manages more than $1B.

About Greycroft

Greycroft is a leading venture capital firm focused on investments in the internet and mobile markets that manages more than $1 billion. With offices in the two media capitals of the world – New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners.

Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, successfully bring their products to market, and build successful businesses. Greycroft Growth has invested in 14 companies to date: App Annie, Bettercloud, Deposit Solutions, EBTH, iCertis, JW Player, Munchery, PHG Plated, Scopely, The RealReal, Thrive Market,WideOrbit and Yeakha. For more information please visit http://www.greycroft.com.