SOSV signals $150m fund

International Finance Corporation is one of 65 limited partners that have backed SOSV’s third fund, doubling the firm’s total assets under management to $300m.

International Finance Corporation (IFC), the private sector arm of multilateral financial institution World Bank, has invested in VC firm SOSV’s third fund closed at $150m yesterday.

The size of IFC’s commitment has not been disclosed. The organisation is one of 65 limited partners that also include family offices, philanthropic foundations, angel investors and multinational corporations – though none of the corporates have been named.

The general partners (GPs) of SOSV, a VC firm that invests in graduates from its network of eight accelerators across the world, provided more than half the funding for the latest vehicle. The two previous funds, totalling $150m, were provided entirely by the firm’s GPs.

SOSV III closed within two weeks, having opened to external investors on December 16 2016.

Founded in 1995, SOSV is led by founder and managing partner Sean O’Sullivan. The firm backs more than 150 startups per year through its accelerators, which focus on a variety of sectors:

  • San Francisco, US-based IndieBio and Cork, Ireland-based RebelBio target life sciences;
  • Shenzen, China and San Francisco-based Hax focus on hardware and robotics;
  • Shanghai, China-based Chinaccelerator and Taipei, Taiwan-based Mox are aimed at internet and mobile;
  • New York, US-based Food-X focuses on food technologies; and
  • New York-based Urban-X targets smart city technologies.

See more from this Government Report: World Bank/IFC

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