Press Release: Interplay Secures $45M for Third Fund Focused on B2B Marketplaces

We're thrilled to share a significant milestone in Interplay's journey – the securing of $45 million for our third fund, the Interplay Early Stage Fund III. This development marks a substantial expansion, almost doubling the capital base of our previous fund and marking our entry into institutional LP participation. Special thanks to Christine Hall of TechCrunch for covering the announcement.

The strong support from our existing LPs underscores the trust we've cultivated since our inception in 2012.

Our investment approach is grounded in innovation. We focus primarily on Series A rounds of software companies with early traction, leveraging quantifiable metrics such as revenue, growth, and unit economics. What sets us apart is our deliberate approach to right-sizing the capital base of our funds, steering clear of the prevalent "asset aggregator" trend.

On the investment front, momentum is building. We’ve allocated roughly ~40% of the and are aiming to invest in ~20-25 companies, while earmarking funds specifically for follow-on investments in our top-performing companies.

Leading our Venture Capital team are seasoned professionals: Managing Partner Mark Peter Davis, along with Partners Kevin Tung and Mike Rogers. Joining this stellar team are recent additions Christian Mark (Partner, Investor Relations) and Caroline Elliott (Associate, Venture Capital). Additionally, we're pleased to announce the promotion of Will Richardson to lead Interplay's Platform Team, with the valuable addition of Stacy Greco (Operations & Talent).

These developments mark an exciting chapter for Interplay, and we're eager to continue our journey alongside the exceptional entrepreneurs we have the privilege of supporting. Here's to the next phase of growth and innovation – let's make it happen together. 🚀