Medina raises $70 mln so far for Fund I


Medina Capital has collected roughly $70 million for a first close of its debut fund, according to an SEC filing and a source.

Miami-based Medina, which makes early growth stage investments in technology companies, is out fundraising for a $250 million pool. The venture capital firm began marketing a year ago, peHUB has previously reported. A final close is expected in June, the source said.

Greenhill & Co is the placement agent for Fund I, the SEC filing said.

Medina’s principals hail from Terremark Worldwide, a data-center services company that was sold to Verizon Communications in 2011 for about $2 billion. Medina currently invests $10 million to $20 million per deal in sectors such as cyber security, cloud computing, big data and storage.

Earlier this month, Medina acquired Cryptzone, a Stockholm provider of encryption technologies. The VC, in February, completed its first exit with the sale of Prolexic, a provider of cloud-based security services for data centers, to Akamai Technologies for $370 million. In addition to Medina, other Prolexic investors included Kennet Partners, Camden Partners, Intel Capital and Trident Capital.

Medina declined comment. Greenhill could not be reached for comment.

Photo courtesy of Shutterstock:

FUNDRAISERS: Don't miss Emerging Manager Connect West 2018 in San Francisco on May 1! CLICK FOR DETAILS!