Private equity firm Elevation Partners plans to raise a new seed stage fund, peHUB has learned.
As peHUB previously reported, Elevation Partners co-founder Roger McNamee said in a speech late last month that his firm would start make seed stage investments. A source with knowledge of Elevation’s plans tells peHUB that the firm will not make the seed investments out of its $1.8 billion PE fund, raised in 2005. Instead, the firm will raise a new fund, the source says, noting that the size of the vehicle has yet to be determined.
McNamee first spoke about his interest in seed deals at the Paley Center for Media in Los Angeles, telling the audience that