Spark To Close On $425M Fund IV

Spark Capital is poised to close its oversubscribed $425 million fourth fund imminently, content partner VentureBeat reported, citing a correction to a story published at the Business Insider financial news Web site. The news was revealed on Twitter by Dow Jones. Spark revealed that it would be raising its fourth fund only in December.

The venture firm was founded in 2005 by Todd Dagres, Santo Politi and Paul Conway. It has its roots on the East Coast, but invests around the globe. The partners say on the firm’s Web site that their secret sauce is that they “don’t just study the markets,” but are “active users in the products in which we invest.”

The firm will invest in diverse market segments, including advertising, e-commerce, cloud computing and infrastructure, social, mobile and content. The firm’s best-known portfolio companies include hipster eyewear brand Warby Parker, Tumblr and Twitter.

Christina Farr is a writer for VentureBeat, a Thomson Reuters content partner.