CrossCut Ventures announces $125 million fund targeting L.A. startups

CrossCut Ventures is announcing it has raised $125 million for its fourth seed fund. The Los Angeles fund will invest in a wide variety of startups, ranging from software-as-a-service to games and esports companies.

Brian Garrett, cofounder and managing director, said in an interview with VentureBeat that new fund is a testament to CrossCut’s success in funding Los Angeles startups for the past nine years. The partners targeted a raise of $100 million, and actually hit the limit of $125 million with strong support from institutional investors. That’s a lot of money that will be earmarked primarily for “Silicon Beach” startups in the growing tech region of Los Angeles.