Northgate adds $100M to FoF

Northgate Capital Group, a fund of funds run by a group of former San Francisco 49ers football players, has raised $100 million for a venture capital fund of funds, according to a regulatory filing.

The fund, called Northgate Private Equity Partners III-M2, is one of five that the firm has raised within the last two years, according to Thomson Financial (publisher of PE Week). The firm also raised $168.5 million for Northgate Venture Partners III and about $200 million for Northgate Private Equity Partners III during 2006.

This year, it raised $2.6 million for Northgate Private Equity Partners III-B1, $159.3 million for Northgate Private Equity Partners III-B3 and $76.5 million for Northgate Global Emerging Markets.

Northgate may be most notable for its starting line of football players turned investors. Three of the firm’s five current investors have played in the National Football League, including Mark Harris, former wide receiver with the San Francisco 49ers; Brent Jones, 49ers as a tight end; and Thomas Vardell, a onetime running back for the Cleveland Browns and the Detroit Lions.

The team used to include former 49er quarterback Steve Young to help with fund-raising, but he joined Sorenson Capital in 2003. —Alexander Haislip