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Formation8 is raising $500M for its second fund

Formation8 is raising $500M for its second fund

Formation8, the venture capital firm co-founded by Palantir co-founder Joe Lonsdale, is a raising a second fund.

The firm doesn’t appear to have brought in any of the money yet, but it’s aiming for $500 million, according to a filing to the US Securities and Exchange Commission from today.

Formation 8 closed its first fund at $448 million in the spring of 2013. The firm’s investments include Glow, Radius, OpenGov, Wellframe, Wish, Context Relevant, Leeo, Lucid, and Addepar, among others, and has seen two exits already — Oculus Rift, acquired by Facebook, and RelateIQ, acquired by Salesforce.

Along with its headquarters in Silicon Valley, Formation8 also has a presence in South Korea, Singapore, and China. Although it doesn’t limit itself to particular industries, big data has emerged as a trend in its investments. The firm also bills itself as looking for companies that want to impact very large industries. Formation8 has also invested in a range of stages, from seed funding and beyond.

Lonsdale co-founded Formation8 with Brian Koo of Harbor Pacific Capital and InnovationHub; James Zhang of Softbank China Venture Capital and BioDiscovery; Tom Baruch of CMEA Capital and Intermolecular; and Jim Kim of GE and Khosla Ventures. Koo’s family heads LS Group, a Korean conglomerate that spun off from LG in 2003.

When reached for comment, Lonsdale declined to comment on the fund.

Disclosure: Formation8 is an investor in VentureBeat

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