Spark Capital closes second growth fund at $606m

Affirm, eToro and Wealthfront backer Spark Capital has closed its second growth fund at $606m, according to an SEC filing.

The fund follows the $375m growth fund Spark closed in 2013 and topped its initial $500m target with 55 limited partners making commitments.

The firm operates offices in San Francisco, New York and Boston and last year closed its fifth early-stage fund with $400m.

Spark Capital counts more than $3bn under managements in total and includes eighteen FinTech companies among its portfolio.

The firm has seen high-profile success in the past with $1bn-plus exits from companies including Oculus, Twitter and Cruise Automation.

Spark claims its growth funds are used to make follow-up investments with its existing portfolio companies as well as place new bets in opportunities it previously missed.

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