Charter Growth II To Notch First Close –

PALO ALTO, Calif. – Charter Growth Capital II was expected to reach a first close on about $150 million in mid-November, with capital raised mainly from Charter’s previous backers, said General Partner Kevin McQuillan.

Charter II has a $200 million target and, like its predecessor, the $106 million Charter Growth Capital I, which wrapped in 1998, it will back mostly late-stage high-technology companies, including e-commerce and telecommunications enterprises. Charter II also will invest about one-tenth of its money in health-care.