In today’s surreal and uncertain times, we believe the role technology plays in our lives is as critical as ever. In the midst of all the innovation taking place, we are thrilled to announce the closing of our seventh fund, capitalized at $800 million, to help us assist the next generation of leading entrepreneurs.
We are indebted to the entrepreneurs who have allowed us to pitch in and partner with them to help build some of the most extraordinary companies of our time, startups who grew into category defining institutions such as Facebook and Salesforce.com. The passion of founders like Christian Chabot, Dave Baszucki; the operational excellence of Greg Schott and Rob Bernshteyn; the creative genius of Zach Nelson, Aaron Levie and Olivier Pomel – all of this is a continual inspiration to us and is at the heart of why we do what we do every single day. Our performance is built on your successes and without you none of this would be possible.
And we are particularly grateful for the continued support from our limited partner base. Many of these organizations have been with us for over two decades and early on had the confidence in our team and our vision to help us pioneer the category of growth-stage venture capital. We can't thank you enough.
Our strategy for Fund VII remains the same. We will focus on investing in the world's very best growth-stage companies, those rapidly scaling businesses that are the market leaders in the markets that matter most. Our flat partnership structure and collaborative culture also remain the same, a big reason why we are able to continually attract extremely talented investors to our team.
We are enthusiastic about the pace of innovation in front of us. The impact of Cloud, Data, AI and other technologies to transform the enterprise, consumer, and healthcare worlds is still early and will only become more substantial. The COVID-19 crisis presents a challenging period for society right now but we will get through this and we do believe this experience will only serve to accelerate the pace of digital transformation.
If we've learned one thing over twenty one years of growth investing and living through multiple downturns, it's that markets do cycle and great companies are created in good times and bad. So we are confident that many exceptional businesses will emerge in the next few years and we look forward to partnering with forward thinking entrepreneurs to help see that happen. Onward!
The Meritech Capital team