(Bloomberg) — Hedosophia, an investment firm founded by Chief Executive Officer Ian Osborne, is planning to raise $950 million for its fifth fund, according to people with knowledge of the matter.
The London-based firm, which has begun discussions with prospective investors, is also targeting raising a so-called overflow fund that will be capped at $475 million, said one of the people, who requested anonymity discussing talks that aren’t public. The overflow vehicle is designed in part to enable investors in Hedosophia’s flagship fifth fund to gain additional exposure to individual companies that it’s backing, the people familiar said.
A Hedosophia spokeswoman didn’t respond to requests for comment.
The firm, founded in 2012, makes wagers on companies that often have already received capital from early-stage investors including Founders Fund and Khosla Ventures. Recent bets include Gopuff, Velo3D Inc., Pulpo and Nextdoor Holdings Inc., PitchBook data shows.
Hedosophia is also known for its special purpose acquisition company efforts. The firm partnered with Chamath Palihapitiya’s Social Capital to raise several U.S. SPACs which have merged with companies including Opendoor Technologies Inc. and SoFi Technologies Inc. Separately, it listed Hedosophia Europe Growth on Euronext Amsterdam in May.
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