It’s no secret that dozens of venture capital firms are fighting for their lives. It may be time to add Rustic Canyon Partners to that list.
The Santa Monica, Calif.-based firm began life with a bang, raising $500 million for its debut fund in 1999. It would later raise small vehicles — including an SBIC fund and a joint fund with Fontis — and then secured just over $200 million for Rustic Canyon III. That vehicle officially closed in October 2008, though fundraising, and investing, began in early 2007.