The Roda Group, a Berkeley, Calif.-based tech incubator, has raised $2.9 million for its eighth fund from 29 investors, according to a regulatory filing.
Backers include the Still Family Trust, Margaret L. Taylor Living Trust, the Strauch/Kulhanjian Family Trust and the Daniel H. Miller Revocable Trust.
The firm is run by Chairman Roger Strauch, the former CEO of Symmetricom, a communications equipment manufacturer, and Managing Director Daniel Miller, a former president of Ask Jeeves, now known as Ask.com.
The new fund is slightly larger than the firm’s last, Roda Group Investment Fund XVII, which raised $2 million in 2005.
Four of the firm’s 10 portfolio companies have been acquired since it started investing in 1997, according to Thomson Financial (publisher of PE Week). It sold Internet message board networking company Centerwheel in 2001, order-management software company NightFire Software in 2003, Internet search company Ask Jeeves in 2005 and contract management company diCarta in 2006.
About $450,000 of the fund will go to pay salaries and fees, according to the filing. —Alexander Haislip