Globespan Closes Fund V

Globespan Capital Partners has closed its fifth fund with $380 million in capital commitments. The venture capital firm has offices in Boston, Palo Alto and Tokyo, and focuses on IT opportunities in the U.S. and Japan, with investments ranging from $250,000 to $15 million. Globespan was originally formed as an in-house VC arm of Jafco, but spun out in 2002. Fund V is its first without Jafco as a limited partner.