Craft Ventures targets $1B for new fund after David Sacks’ return from White House

Craft Ventures, the venture firm co-founded by David Sacks, is targeting roughly $1 billion for its fifth fund, according to an SEC filing dated August 7, 2026. If successful, Craft Ventures V would push the firm's total capital raised from limited partners above $4 billion, nearly matching the combined size of its prior funds, which totaled $1.32 billion. Sacks returned to the firm in March 2026 after serving 14 months as the White House's AI and crypto czar.

Via clubchasm.com Craft Ventures targets $1B for new fund after David Sacks’ return from White House The venture firm's fifth fund would push total capital raised from limited partners above $4 billion David Sacks spent 14 months as the White House’s AI and crypto czar. Now he’s back in venture capital, and he’s not easing into it. Craft Ventures, the firm Sacks co-founded, is looking to raise roughly $1 billion for its fifth fund, according to an SEC filing dated August 7, 2026. If successful, Craft Ventures V would push the firm’s total capital raised from limited partners north of $4 billion. The details behind Fund V The new vehicle is structured as a Delaware limited partnership. It marks Craft’s first major fundraise since Sacks departed his government role in March 2026, where he served as a key advisor on artificial intelligence and digital asset policy under the current administration. Craft Ventures’ previous funds totaled $1.32 billion in commitments, with the firm’s assets under management reaching $3.3 billion after closings in 2023. A billion-dollar Fund V would represent a significant step up in scale, nearly matching the combined size of all prior funds. No specific portfolio targets or investment themes have been disclosed yet. But Craft has historically focused on B2B software and marketplaces. The firm was co-founded by Sacks and Bill Lee out of San Francisco in 2017. Sacks is known to much of the tech world as a member of the original PayPal mafia, and previously founded Yammer. The Sacks factor Sacks served in the White House role from January 2025 through March 2026. During that period, the administration took several notable steps on crypto policy, including efforts to establish clearer regulatory frameworks for digital assets. Following his departure, Sacks transitioned to co-chairing the President’s Council of Advisors on Science and Technology. What this means for venture capital The SEC filing doesn’t indicate a hard deadline for closing Fund V, and the final number could land above or below the $1 billion target depending on LP appetite. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy https://cryptobriefing.com/editorial-policy/ .