TLDR:
- AlleyCorp, led by Kevin Ryan, has raised a $250 million fund, its first with external investors.
- Ryan, a serial entrepreneur, has a track record of successful investments and cofounding companies like MongoDB and Gilt Groupe.
In an exclusive report, Fortune reveals that AlleyCorp, under the leadership of Kevin Ryan, has secured a new fund of approximately $250 million, marking the first time the firm has taken on external investors. Despite being labeled as a first-time fund, AlleyCorp has a robust track record of deploying over $375 million across more than 180 companies. The majority of the investments made by the firm were personally funded by Ryan, resulting in those companies raising over $3 billion in follow-on capital.
Kevin Ryan’s impressive background includes cofounding companies such as MongoDB, Gilt Groupe, and Business Insider. Known for his role as the CEO of DoubleClick, Ryan has achieved notable success in the tech industry. His approachability and support of employees and founders have garnered praise, with former colleagues highlighting his competitive nature and commitment to growth.
AlleyCorp’s strategic focus on the New York City tech scene remains steadfast, with Ryan emphasizing the firm’s long-term sustainability. Moving forward, AlleyCorp aims to emulate established venture capital firms like Venrock and Bessemer, positioning itself for a sustainable future in the industry. With a diverse portfolio and a track record of successful investments, AlleyCorp’s entry into the world of external investors marks a significant milestone in its evolution.
