Medina raises $70 mln so far for Fund I


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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.

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