Sierra Ventures
Sierra Ventures last closed a fund in July 2022 — 52 months ago. By its own rhythm, that is already past its usual gap.
Sierra Ventures has raised 4 times about every 43 months. The last was Sierra Ventures XIII, L.P. That pointed to Feb 2026. It is 9 months past its own gap and has not filed a new fund.
Historically about 1 in 4 firms in this position filed within a year. The month is approximate — how often this is right.
Late-cycle This firm is deep enough into its last fund that a new one would not be a surprise.
Still filing with the SEC: September 2023. That is an amendment to an existing offering, not a new fund - which is what an evergreen structure looks like in this data.
- Funds on file
- 4
- Capital raised
- $791M
- Latest close
- July 2022
- Based in
- CA
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Sierra Ventures XIII, L.P. | July 2022 | $266M | 0001911516 ↗ |
| Sierra Ventures XII, L.P. | March 2019 | $175M | 0001756300 ↗ |
| Sierra Ventures XI, L.P. | September 2015 | $150M | 0001648306 ↗ |
| Sierra Ventures X, L.P. | December 2011 | $200M | 0001537803 ↗ |
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
Mark Fernandes, Tim Guleri, Yunbei Yu
What Sierra Ventures invests in
- Typical fund
- $200M median, early stage, Series A-B scale
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.