San Francisco-based venture firm Alsop Louie Partners is raising its second fund, with a target $75 million to $100 million, according to Private Equity Insider.
Firm co-founder Stewart Alsop said he couldn’t comment due to regulatory restrictions.
The firm’s plans to hit the fund-raising trail early this year were first reported last June by PE Week, a VCJ sister publication. Its first fund, raised in 2006, weighed in at $75 million.
It isn’t clear how much that first fund has invested, since Alsop Louie doesn’t list portfolio companies on its website, apparently for competitive reasons. The venture capital database run by Thomson Reuters (publisher of VCJ), shows that the early stage firm has invested in at least 11 companies to date, eight of them in the Internet space, two in computer software/services and one in communications/media.The firm has made at least one investment this year. In January, it teamed with KPG Ventures on a $1.26 million Series A for Cake Financial Corp., a San Francisco-based company that offers an online service that enables users to follow their stock portfolios and trades, according to Thomson Reuters.So far, Alsop Louie has had at least one liquidity event: Portfolio company Ribbit Corp. was acquired by BT Group last July for $105 million. The telephone software developer had previously raised $23 million over three rounds from Allegis Capital, Alsop Louie, KPG, and Peninsula Equity Partners. Alsop Louie and KPG funded the Series A round with $1.5 million apiece in October 2006, then Allegis and KPG teamed for a $10 million Series B in October 2007 and Peninsula did a $10 million Series C by itself in February 2008, according to Thomson Reuters. Alsop Louie was launched as a partnership nearly three years ago by Alsop, a former a general partner with New Enterprise Associates and onetime editor of InfoWorld, and Gilman Louie, former CEO of In-Q-Tel. VCJ profiled Alsop and Louie in its April 2006 issue in story entitled “The Gadfly and the Gamer.” —Lawrence AragonDEALWATCH: Five recent investments by Alsop Louie Partners
Cake Financial Corp.
_Investing portfolio information websiteNetWitness Corp._Network monitoring solutionsSmith and Tinker Inc._Online entertainment productsSportgenic Inc._Targeted online advertising servicesTopSchool Inc._Student information systemsNote: Investments made between April 24, 2008, and Jan. 26, 2009.Sources: Thomson Reuters