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8VC files for two new funds, intends to raise over $1B

Firm profiled for top VC investor in Pitchbook report

8VC files for two new venture capital funds. (Photo: Jim Allen/FreightWaves)

Austin, Texas-based 8VC, a venture firm within the logistics industry, has submitted filings with the U.S. Securities and Exchange Commission for two new venture capital funds this week. The funds, 8VC Opportunities Fund II L.P. and 8VC Fund IV L.P., intend to raise $880 million and $640 million, respectively.

While the firm has not addressed what type of investments the new funds will be for, 8VC has been acclaimed for its investments in supply chain technology companies.

Last month, 8VC was profiled in Pitchbook’s Q1 2021 Supply Chain Tech Report for being a top VC investor in supply chain technology companies, with 25 deals secured since 2018. 

The firm’s Series A investment in Baton, a digital drop-freight startup, was also highlighted as a key early-stage venture capital deal of the quarter. 8VC has been a key partner to Baton, hosting the co-founders as entrepreneurs in residence and eventually leading the company’s $3.3 million seed round in 2019.

8VC’s other recent deals include Waabi, a self-driving technology startup that recently raised an $83.5 million Series A, and FreightWaves’ $16 million capital raise for its sustainability platform available on SONAR.

The firm aims to encourage technological innovation that can create long-lasting economic and civic value, including investments in companies like The Boring Co., Flexport, Deliverr, Joby, Platform Science and project44.

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Grace Sharkey

Grace Sharkey is a professional in the logistics and transportation industry with experience in journalism, digital content creation and decision-making roles in the third-party logistics space. Prior to joining FreightWaves, Grace led a startup brokerage to more than $80 million in revenue, holding roles of increasing responsibility, including director of sales, vice president of business development and chief strategy officer. She is currently a staff writer, podcast producer and SiriusXM radio host for FreightWaves, a leading provider of news, data and analytics for the logistics industry. She holds a bachelor’s degree in international relations from Michigan State University. You can contact her at [email protected].