4 ms·

I interpreted it as additional cash for the same fund.

• jsprogrammer 10y ago
  The cash is for "late-stage opportunities" in "portfolio companies".
  • bing_dai 10y ago
    Yup. It's called "reserve". VCs often reserve a minor portion of the fund (~30%) for investing in future rounds of the fund's existing portfolio companies.
  • mathattack 10y ago
    It's to avoid negative signaling that may occur if a VC firm doesn't invest in subsequent rounds.