Columbia Capital branches into PE with $247 mln fund

Columbia Capital, a venture capital firm focused on communications, media and technology, has raised $247 million for a private equity fund, Columbia Spectrum Partners I, according to filings.

James Fleming and John Siegel, who are listed as executives for Columbia Spectrum Partners, both work as partners at Columbia Capital, which is based in Alexandria, Virginia.

Fleming joined the firm in 1994 and focuses on investments in cybersecurity, media and mobile, according to the firm’s website. Siegel’s specialties include Internet infrastructure and information technology for businesses. He joined the firm in 2000.

The firm did not return a phone call.

Columbia Spectrum Partners I’s date of first sale is February 9, with 49 investors taking part in the fund, according to the filings for Columbia Spectrum Partners I-A and Columbia Spectrum Partners I-B, which are described as “parallel funds.”

The use of the word “spectrum” in the name suggests the firm may use the fund to continue its practice of investing in various radio frequencies for communications. The firm’s roots go back to its role as an advisor for companies and entrepreneurs buying and selling wireless spectrum.

Among Fleming’s deals, he held a board seat with AB Spectrum, which included wireless spectrum assets sold to T Mobile.

Columbia Capital’s typical equity investments range from $15 million to $40 million, according to its website. It has invested $2.5 billion in more than 100 companies in its 25-year history.

The filing for Columbia Spectrum Partners came the same day the firm said it closed Columbia Capital Equity Partners VI at its hard cap of $500 million. It had previously closed on about $438 million for Fund VI in June 2015, according to an SEC filing.

Action Item: See the Form D filing for Columbia Spectrum Partners I-A here: http://1.usa.gov/1KXhgR4

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