MENLO PARK, Calif. – Benchmark Capital Partners IV in mid-September closed on $650 million from institutional investors and at press time was preparing to close on $350 million from individuals, including the firm’s management, said Managing Member Steve Spurlock. The $1 billion fund dwarfs Benchmark’s last vehicle, the $175 million Benchmark Capital Partners III, which […]
HARTFORD, Conn. – A corruption scandal at the State of Connecticut Treasury Department is casting a harsh light on private equity fund-raising practices and on several private equity firms that may have granted favors and paid unusual fees to obtain commitments from the pension – fees that later found their way into the pockets of […]
MENLO PARK, Calif. – Convergence Partners in October held a first close on $95 million for Convergence Ventures II, said General Partner Russ Irwin. Marketing for the latest fund began last Spring as the firm was winding down making new commitments from the $60 million Fund I, which closed in Spring 1997. Having had just […]
MENLO PARK, Calif. – Doll Capital Management in late September wrapped its second fund, Doll Technology Investment Fund II, along with an affiliate and two parallel funds, which altogether total $150 million. Launched in late 1998, Fund II was targeted at $80 million to $100 million (VCJ, February, p. 25), and it held a $42 […]
REDWOOD CITY, Calif. – Draper Fisher Jurvetson Fund VI late last summer closed on $400 million – $375 million from limited partners and $25 million from the firm’s managing directors. Once existing limited partners were informed about the new fund, the vehicle completed fund raising in three weeks, said Managing Director Tim Draper. While Fund […]
WASHINGTON, D.C. – Arlington Capital Partners is on the fund raising trail for its first vehicle, Arlington Capital Partners L.P., targeted at $425 million to $450 million. A final close is expected in late November, said Jeffrey Freed, a general partner at the firm. Arlington Capital was founded in March when fund raising began for […]
BOSTON – With approximately 90% of its ninth venture fund committed, Greylock Management Corp. intends to raise its tenth fund in the next three to six months, with a likely target of $400 million, said General Partner Aneel Bhusri. While most firms typically initiate the fund raising process after current funds are 75% invested, Greylock […]
CAMBRIDGE, Mass. – MPM Asset Management has launched a sophomore effort, Bio Ventures II Group of Funds, targeted at $300 million to $400 million, a majority of which already has been soft circled, said Ansbert Gadicke, a general partner at the firm. The vehicle, expected to close at the end of the first quarter, will […]
BOSTON – The Schroder Ventures International Life Sciences Fund II in late September reached a $280 million wrap on its core fund and in early October held a $30 million close on three related side funds. Fund II had a $200 million target and a $250 million cap, but the firm negotiated with limited partners […]
RADNOR, Pa. – Cross Atlantic Capital Partners Inc. has launched its inaugural Cross Atlantic Technology Fund, L.P., which is targeted at $150 million and will invest in the United States, the United Kingdom and Ireland. The firm expected a first close on $50 million in October and a final close before the end of the […]