In Part 2 of a two-part series, David Teten of ff Venture Capital and his research partners discuss three common categories of VCs in terms of attitude and practices towards investing and portfolio company support: Financiers, Mentors and Portfolio Operators.
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Correlation Ventures said it closed an initial $165 million venture capital fund that will leverage its predictive analytics to offer entrepreneurs and lead investors co-investment decisions within two weeks. The fund was oversubscribed and ended up 10% above its target of $150 million. Limited partners include leading endowments, foundations, pensions, family offices, high-net-worth individuals and [...]
Framehawk Inc. has raised $11 million in Series B financing from Matrix Partners and undisclosed existing investors, the company announced Tuesday. The “stealth-mode” company says it is focused on enterprise mobility software. Framehawk previously raised $5.5 million from Alsop Louie Partners, Correlation Ventures and Triangle Peak Partners.
Fundly, a cloud-based social fundraising platform for non-profits, has raised $5 million in financing led by Morgenthaler Ventures. Seed investors Kapor Capital, Correlation Ventures, Seraph Group, and Accelerator Ventures also participated in the round. As a result of the round, Morgenthaler’s Mark Goines will join the Fundly board. Fundly is based in Palo Alto, Calif.
Virsto Software, maker of VM-centric storage-hypervisor software, has added $5 million in a follow-on investment to its Series B round. The additional funds bring the Series B round to $17 million. Southern Cross Venture Partners and Correlation Ventures join as new investors. The company is also backed by InterWest Partners, August Capital and Canaan Partners.
Bunchball, an online gamification solutions provider, has raised a $6.5 million round of funding from Triangle Peak Partners (led), Northport Investments, Correlation Ventures and Granite Ventures. The company previously raised a $2 million Series A round in 2006 and a $4 million Series B round in 2008 from Granite Ventures and Adobe Ventures. Bunchball, founded [...]
Zuberance, has raised $8 million in Series B financing. Menlo Park, Calif.-based Canaan Partners led the round, which included investment from Emergence Capital Partners and Correlation Ventures. Zuberance develops word-of-mouth marketing technology, and is based in San Carlos, Calif.
Eyeballs are nice, but eyeballs don’t pay your bills when you’re a retailer with an online presence. I thought about that yesterday when I was interviewing Rob Fuggetta, founder & CEO of Zuberance, and his newest venture backer, Deepak Kamra, general partner of Canaan Partners. San Carlos, Calif.-based Zuberance, which provides a word-of-mouth marketing platform, [...]
Correlation Ventures, a San Diego-based firm that wants to use algorithms to passively invest in VC deals led by other firms. Basically a quant approach to venture capital.
Someone was kind enough to send over one of the firm’s recent decks, and we’ve learned a bit more information:
VC firms have added lots of job titles over the years, including venture partners, special limited partners and entrepreneurs-in-residence. But quant analysts?
That’s one of the positions at Correlation Ventures, a San Diego-based firm that currently is raising its debut fund. Details are sketchy at this point – it’s not talking, natch – but it kind of sounds like a venture index effort. In other words, Correlation has developed an algorithm that would be used to passively invest in venture deals being led by other firms (it’s already “signed” some brand-name partners).