Exclusive: Goodwater Capital snags $1B across two new funds, despite cooling interest in consumer tech

Goodwater, one of comparatively few firms to focus exclusively on consumer tech investments, has closed on $1 billion in capital commitments across its fifth early-stage fund and its third opportunity-style fund, TechCrunch is first to report. The bulk of the capital — 60% — will be invested in early- and seed-stage outfits.
The Burlingame, Calif., firm, which now has $3.3 billion in assets under management, has seen a handful of notable exits over its nine-year history. It invested in the lip-syncing app Musical.ly, which reportedly sold for upwards of $1 billion in 2017 to Byteda

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