Burnham gets his beat back

For about six months in the middle of the year, Bill Burnham wasn’t blogging on his site, billburnham.blogs.com. He was busy wrapping up the details of his new fund, which he unveiled in October.

Burnham raised $10 million for a hedge fund called Inductive Capital from a group of venture capitalists and others to invest in small public tech companies. He may raise more, he said. The fund’s focus may seem like a bit of a departure from Burnham’s days as managing director of Mobius Venture Capital, but it fits with his background as a Wall Street analyst. Inductive focuses on software and Internet comapnies, where Burnham has had his most experience as an investor.

Prior to raising Inductive, Burnham and Vonage founder Carlos Bhola teamed up to raise a $150 million fund for Celsius Capital to invest in China. Celsius is still in fund-raising mode and has made a couple of interim investments, but it has moved on without Burnham. He says the split was a mutual decision. “The more I thought about it, it didn’t really make sense for me to be part of a China-focused fund,” he said. —Alastair Goldfisher