Thayer Ventures Closes $80 Million Fund to Back Travel Startups
Photo Credit: Chris Hemmeter, managing director of Thayer Ventures, talked at Skift Tech Forum in June 2018. Skift
Skift Take
Expect investments in travel startups to hit their lowest levels in total amounts since the global financial crisis a decade ago. But when less capital is chasing deals, persistent venture capital firms may have a better shot at nurturing long-term bets.
A venture-capital firm has said it has closed an $80 million fund to invest in young travel and transportation companies despite the coronavirus pandemic.
Thayer Ventures is one of the rare firms to focus primarily on travel, which is why the sector sees it as a bellwether for the state of equity financing. The San Francisco-based company prioritizes early-stage, business-to-business companies, though it also considers other opportunities.
Thayer raised its fund before the coronavirus pandemic and has already tapped it to make investments, including ones in Beekeeper, an operational communications platform for hourly workers whose recent
