Goodwater, one of comparatively few firms to focus exclusively on consumer tech investments, has closed on $1 billion in capital commitments across its fifth early-stage fund and its third opportunity-style fund, TechCrunch is first to report. The bulk of the capital — 60% — will be invested in early- and seed-stage outfits.
The Burlingame, California, firm, which now has $3.3 billion in assets under management, has seen a handful of notable exits over its nine-year history. It invested in the lip-syncing app Musical.ly, which reportedly sold for upward of $1 billion in 2017 to ByteDance (which then shut it down and combined it with TikTok). It also backed the Croatian math app Photomath, which Google agreed to acquire last year for an unknown amount; it bet on the cash-back offers startup DOSH, which sold t …
