Playground Global, an early-stage venture capital firm specializing in deep technology and science, has announced the raising of $410 million for its Fund III. This new fund brings the firm's total assets under management to over $1.2 billion, signifying a substantial commitment to transformative technologies and category-defining businesses. With a focus on Seed and Series A companies, Fund III will invest in areas such as next-gen computing, logistics, automation, infrastructure, decarbonization, and engineered biology.
The Playground team, led by Peter Barrett and other tech-savvy general partners, aims to back companies that are creating the next generation of technologies. Their investment philosophy centers on identifying and supporting groundbreaking developments in various sectors, including computing and AI. This approach is evident in their early investments in firms like PsiQuantum, MosaicML, and Velo3D.
With a team of over 40 experts, many of whom have technical backgrounds, Playground is well-equipped to identify and support technology companies. The firm's investment and technology teams work in tandem with operating and platform teams to provide comprehensive support in areas such as capital formation, business development, talent, and marketing from the earliest stages.