Craft Ventures, the VC firm helmed by former White House AI czar David Sacks, is raising its first fund since Sacks stepped away from the Trump Administration role earlier this year, according to a securities filing and two people with knowledge of the effort. The firm is targeting around $1 billion for the new fund, one of the people said. The fundraise would bring the total amount of cash the firm has raised from its limited partners to over $4 billion. It would mark a shift for Craft away from its two-fund structure to just one vehicle, which will focus on companies Series A and later, the other person said.
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