Rembrandt Venture Partners has closed its second fund with $160.5 million in capital commitments. The Menlo Park, Calif.-based firm focuses on early-stage technology opportunities.
Rembrandt Venture Partners has closed a second fund (Rembrandt Venture Partners’ Fund Two) in the amount of $160.5 million. It will be invested in early-stage companies with ground-breaking technology offerings. Rembrandt Venture Partners’ Fund Two was oversubscribed, exceeding its initial target by $10.5 million.
Rembrandt has been a participant in several recent successes in the high tech space, like Cavium, Good Technologies (acquired by Motorola), Ironport (acquired by Cisco), LGC Wireless (acquired by ADC Communications), and MetaLINCS (founded by Rembrandt, acquired by Seagate).
“The success of our first fund paved the way for us to raise a significantly larger amount this time around, despite the capital crunch,” said Douglas Schrier, general partner. “There are great opportunities right now for venture investors who have not just the capital but the hands-on entrepreneurial experience to pitch in and help build truly great companies. Wireless, data management, digital media, and enterprise infrastructure and software are just a few of the areas where we are seeking disruptive technologies to invest in.”
Rembrandt Partners is a firm of highly skilled C-level managers, entrepreneurs and technologists whose first love is company-building. Founded in 2004, it has returned a significant portion of the capital from its first fund of $70 million and raised a second fund more than double in size. The firm currently has $230 million under management.
Rembrandt Venture Partners general partners Jerry Casilli, Douglas Schrier and Richard Ling have returned over $1.2 billion in exits throughout their investing careers. Jerry Casilli was the founder of Genesis Capital and Trinity Ventures and co-founded Rembrandt Venture Partners with Richard Ling.
In Sik Rhee recently joined the Rembrandt general partner team from Accel Partners. He brings an additional 18 years of experience as an entrepreneur and investor. He was a co-founder and chief tactician at Opsware, formerly Loudcloud, which was acquired by Hewlett-Packard for US$1.6 billion in 2007.
About Rembrandt Venture Partners:
Rembrandt Venture Partners (RVP) was established in 2004 to provide private equity capital to early-stage technology companies. Rembrandt invests in a variety of sectors including Internet infrastructure, software, communications, wireless and new media convergence. http://www.rembrandtvc.com