David Sacks' Craft Ventures Targets About $1 Billion for a Single Series A-and-Later Fund

Craft Ventures, the venture firm co-founded by David Sacks, is seeking about $1 billion for Craft Ventures V, its first new fund since Sacks ended his stint as White House AI and crypto czar. The planned fund would replace Craft's recent two-fund format with one vehicle focused on companies at Series A and later.