The Private Investment Funds team served as US counsel to Team8 on their recent closings of multiple funds totaling approximately USD $500 million, bringing Team8’s total assets under management to over USD $1 billion.
Two of the funds are part of Team8’s Venture-Creation model and a third belongs to its Venture-Capital model:
- Team8’s Venture-Creation Enterprise Fund strategy has raised approximately USD $110 million for its third fund, Team8 Enterprise Partners III, L.P. This fund is primarily dedicated to collaborating with leading entrepreneurs (often serial founders) to jointly build and invest in Seed rounds in 1-2 new startups a year in the fields of cybersecurity, data infrastructure & AI.
- Team8’s Venture-Creation Digital Health Fund strategy has raised approximately USD $70 million for its first fund, Team8 Health Partners I, L.P. This fund will also partner with experienced and often serial entrepreneurs uniquely positioned to revolutionize the digital health ecosystem that is undergoing a dramatic digital transformation. The fund will be used to jointly build and invest in Seed rounds in 1-2 new startups a year.
- Team8’s Venture-Capital Fund strategy has raised approximately USD $235 million for its second fund, Team8 Capital II, L.P. This fund is focused on investing in promising Seed and Series A rounds of startups that operate across and in the intersection of various sectors, including cybersecurity, enterprise infrastructure (data, AI, cloud, dev, devops), fintech, and digital health.
In addition, Team8 also raised approximately $85 million more in its follow-on and co-investment funds, doubling down on Team8’s most successful companies on an on-going basis.
Team8 is a global Venture-Creation and Venture Capital Fund that creates and invests in companies focusing on cybersecurity, data & AI, fintech, and digital health. Team8’s signature Venture-Creation model is designed to identify meaningful problems, create theses on potential solutions, and build and invest in innovative companies that tackle these challenges.
The Goodwin team was led by Thomas Beaudoin and Lia Schmidt, with substantial assistance from Arielle Whiting, Janet Kim, Megan Weeren, Tianli Song, Liz Teixeira de Mattos, Bryan Snyder, Ghena Euodia and Karen Turk (tax).
For addition details on the closing, please read the press release.