Industry Ventures closes $170 mln for fund of funds

San Francisco-based Industry Ventures has raised $170 million for its latest fund of funds, Industry Ventures Partnership Holdings III. The fund will focus on primary commitments and early secondary purchases in smaller venture capital funds as well as direct investments alongside its managers.

Sept cov914

LPs warm up to venture: VCJ

Near record distributions are bringing limited partners back to the asset class. As fund commitments jump so do capital flows.


Industry Ventures names new VP

San Francisco-based Industry Ventures has hired Lindsay Sharma as a vice president. Previously, Sharma worked at Intuit where she was a principal in corporate strategy and development.


Vy Capital, Adams Street, Industry Ventures invest $44 mln in Scytl

Election modernization company Scytl has secured an additional $44 million from Vy Capital, Adams Street Partners and Industry Ventures under a funding round initiated in April 2014. With the additional investment, Scytl has closed the funding round with $104 million from five new investors: Vulcan Capital, SAP Ventures, Vy Capital, Adams Street Partners and Industry Ventures. Balderton Capital, Nauta Capital and Spinnaker Invest remain significant shareholders in Scytl.


Bull City Venture Partners closes about $26 mln for new fund

Durham, NC-based Bull City Venture Partners said Monday that it has raised approximately $26 million for its new fund. Its LPs include Blue Cross and Blue Shield of North Carolina, Capitol Broadcasting Company, Cisco, Grosvenor Capital Management, Industry Ventures and Red Hat. The pool will focus on early, seed and growth stage firms.


Industry Ventures promotes May to COO

Industry Ventures has promoted Robert May to chief operating officer. In addition to this new position, May will continue as the firm’s chief compliance officer. Also, the company has hired Ira Simkhovitch as a senior associate.


VCs launch into new space: VCJ

Welcome to the era of “New Space,” where a small, but growing number of emerging hardware companies – many venture backed – are starting to take over the reins of space exploration as Washington, D.C., and other government agencies worldwide, shift the financial burden to private enterprise, affiliate magazine Venture Capital Journal reports.

On Deck Raises $17M From Google Ventures, Peter Thiel, Industry Ventures

On Deck said it raised $17 million as an expansion of its Series D financing in a deal led by Google Ventures and joined by PayPal co-founder Peter Thiel and Industry Ventures. The Series D now totals $59 million, with $42 million having closed in February. The first tranche of Series D financing was led by Institutional Venture Partners and joined by RRE Ventures, SAP Ventures and First Round Capital.

Harvest Power Raises Additional $15 Million in Series C Financing

Four-year-old Harvest Power, a Waltham, Mass.-based company that produces renewable energy and soils, mulches and natural fertilizers raised, has raised a $15 million extension to its $110 million Series C financing. The newest funds come for Tur Partners and Industry Ventures. True North Venture Partners led the initial round, alongside existing investors that include Kleiner Perkins […]

LifeLock Closes Acquisition And $100M Round From Kleiner, IVP, Bessemer, Others

LifeLock, Inc. said it completed its acquisition of ID Analytics and raised more than $100 million in preferred equity to pay for the deal. The list of participating investors reads like a who’s who of the venture business. Included were Bessemer Venture Partners, Goldman, Sachs & Co., Kleiner Perkins Caufield & Byers, Symantec Corporation, River […]

Slideshow: Top 10 Largest VC Fundraisings for Q2

It’s like a jungle sometimes,
It makes me wonder
How I keep from going under.
–Grandmaster Flash

Raising a venture fund is proving to be increasingly difficult. As my colleague Connie Loizos reported on Monday a paltry 37 VC funds were raised in the second quarter. That was the smallest quarterly number in 16 years.

But, as evidenced by funds raised in Q2, you can still raise capital if you can show LPs a track record of returns or offer a differentiated strategy. Of the 10 funds that raised the most capital in the second quarter, four are focused on China and India, markets that have produced big exits in the past couple of years; three are follow-on vehicles for successful funds; one is a new fund raised by VCs with solid track records; one targets the booming market for Android-based applications; and one buys distressed VC portfolios on the secondary market, where there are still plenty of deals to be had.

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