Craft Ventures, the venture firm launched in 2017 by serial entrepreneur David Sacks, has closed its second fund with $500 million in capital commitments, an amount the firm was said to begin targeting roughly a year ago.

Craft’s debut fund had closed with $350 million.

The outfit — which Sacks runs with other serial entrepreneurs Bill Lee (Remarq, Social Concepts), Jeff Fluhr (StubHub, Spreecast), and Sky Dayton (who has founded and cofounded a lot of companies) — invests in series seed, A, and B rounds, in a wide range of companies that neatly fit into each investor’s wheelhouse.

For his part, Sacks, who was the COO of PayPal before founding the genealogy website, then Yammer, is focused on both consumer and enterprise startups as

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