Amidst a time of global crisis, Wing Three was raised virtually with nearly all investor discussions occurring via video during the COVID-19 pandemic lockdown
Fremont, CA: Palo Alto-based Wing Venture Capital raised its third fund named Wing Three, with a USD 450 million pool of capital dedicated to early-stage investing and long term company building in enterprise technology. Similar to the company's previous funds, the investment was participated by some of the venture world's most sophisticated institutional investors. Amidst a time of global crisis, Wing Three was raised virtually with nearly all investor discussions occurring via video during the COVID-19 pandemic lockdown.
Proceeds from the investment round will help founders build businesses that enable a modern enterprise, an agile workplace built on data, and AI-fueled. The firm invests early, leading Seed and Series A financing rounds, and partners for the long term with its signature company-building skills and resources. The company has one of the most experienced and deepest teams in the enterprise technology sector and has been aggressively augmenting its talent across the board.
Over the last two years, Sara Choi (formerly of Google), Jake Flomenberg (formerly of Accel), and Aaref Hilaly (previously of Sequoia) have joined Zach DeWitt, Gaurav Garg, and Peter Wagner as investing partners. During the same period operating partners Rajeev Chand (Head of Research, formerly of Rutberg), Sunil Chokshi (Head of Talent, formerly of A16Z) and Didi Dayton (Head of Market Development, previously of FireEye) have joined to lead key portfolio service initiatives designed to accelerate the progress of early-stage enterprise technology companies.
"Times like these are when many of the best companies are formed," said Peter Wagner, a Founding Partner of Wing. "Founders of true grit step forward to build companies in a less cluttered market with a keen focus on execution. We look forward to supporting entrepreneurs of this caliber and character with the resources of Wing Three." In contrast to the rest of the venture capital industry, Wing has seen its investment pace accelerate since the pandemic lockdown and is closing the first few investments from the new fund. The company's team has operated in challenging environments before: three of Wing's six investing partners were active venture capitalists or company founders during both the Dot-Com Crash of 2000 and the Great Financial Crisis of 2008.