· investment-strategies · 1 min read
CRV Closes $750M CRV XX, Refocuses on Early Stage
CRV closed its twentieth flagship fund, CRV XX, at $750M in four weeks, doubling down on early-stage investing and stepping back from late-stage Select funds.
CRV closed its twentieth flagship fund, CRV XX, at $750M in August 2025 — raised in about four weeks — as the 55-year-old firm refocuses exclusively on early-stage investing.
Key facts
- Firm: CRV (formerly Charles River Ventures, founded 1970)
- Fund: CRV XX, $750M
- Raise speed: ~4 weeks, ~2x oversubscribed
- Strategy shift: Early-stage focus; no more late-stage Select funds (returned $275M of Select capital)
- Track record: Led DoorDash’s seed; Series A of Mercury and Vercel
Why this matters
The smaller, early-stage-only fund reflects CRV’s bet that seed and Series A drive the best returns. The firm remains one of the most active early-stage investors, with 20 new deals in a trailing year.
Sources
- CRV XX $750M close (Everything Startups): https://www.everythingstartups.com/vc-funds/crv
- CRV fund history (CB Insights): https://www.cbinsights.com/investor/crv
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