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Capital Z Wraps Global Fund-of-Funds –

18 years ago

NEW YORK – Capital Z Partners Ltd. in January wrapped a $1.5 billion fund-of-funds the firm will use to help establish groups raising private equity and hedge funds around the world. Capital Z, like a growing number of L.P.s, believes the private equity world is becoming global and the time is now ripe to establish […]

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New Hambrecht Firm Auctions IPO Stocks –

18 years ago

SAN FRANCISCO – Imagine an initial public offering in which the company’s prospectus is posted on the Internet with a suggested price. Interested parties – drawn heavily from the general public – would read the document and make bids, submitting the number of shares they want and the price they are willing to pay. After […]

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Revamped HQ Fund Reaches First Close –

18 years ago

SAN FRANCISCO – Hambrecht & Quist’s Access Technology Partners fund in February reached a first close on $154 million, well over the $110 million target set last summer following a redesign of the fund. Managing Director Charlie Walker anticipated the vehicle reaching $220 million, far exceeding a $160 million cap. The fund-raising ceiling was raised […]

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Familiar Investors Support M/C Effort –

18 years ago

BOSTON – M/C Venture Partners, one of two new venture firms spun out of Media/Communications Partners, closed in January on $230 million. Although all limited partners had committed by early December, the firm held a two-part close – one in December and one in January – to allow some L.P.s to invest from their 1999 […]

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Brantley Anticipates March Fund Wrap –

18 years ago

CLEVELAND – Just as it closed the last new deal of its third fund, Brantley Venture Partners was gearing up for a second close on Fund IV. Brantley Venture Partners IV, a $125 million-targeted vehicle, will have a $90 million second close in February, said the firm’s Managing General Partner Robert Pinkas. The fund held […]

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Great Hill Notches $250M First Close –

18 years ago

BOSTON – Great Hill Partners, one of the two venture firms that last year spun out of Media/Communications Partners, in February held a $250 million first close for its inaugural fund. Great Hill has another $50 million in hard-circled commitments and likely will use rolling closes until the fund wraps, Managing General Partner Steve Gormley […]

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Frazier’s Latest Fund Rakes In $220M –

18 years ago

SEATTLE – Frazier & Co. in late January wrapped its fourth fund, Frazier HealthCare III, on almost $220 million, more than double the firm’s last vehicle and about $60 million more than its goal. Despite exceeding its fund target, the strictly health care-focused firm does not expect to have difficulty putting the extra capital to […]

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Caduceus Closes $60M Medical Fund –

18 years ago

BOSTON – Armed with a Small Business Investment Company (SBIC) license and capital from several Pittsburgh-area institutions and endowments, Caduceus Health Ventures in late January wrapped its first fund-raising effort. The $60 million Caduceus, named after the insignia symbolizing the medical profession, will invest in medical-related companies ranging from devices to bioinfomatics and drug discovery. […]

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Going Once! Twice! Sold to the Man with the Start-Up! –

18 years ago

REDWOOD CITY, Calif. – How much is about two hours of your time worth? Venture capitalist Steve Jurvetson of Draper Fisher Jurvetson, thanks to a recent charity auction on eBay, can give a precise market value for the time it takes have breakfast with him: $9,400. That’s the cumulative price two entrepreneurs paid to shoot […]

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Silver Lake Launches Tech Buyout Fund –

18 years ago

NEW YORK/MENLO PARK, Calif. – A new group formed by Glenn Hutchins, a former managing director at The Blackstone Group; Integral Capital Partners, a Kleiner Perkins Caulfield & Byers affiliate; and two executives from Silicon Valley in February launched a buyout fund with a $1 billion target that will invest solely in technology companies. Silver […]

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Piedmont Nears Its Second Close –

18 years ago

CHARLOTTE, N.C. – Eager to focus on investing its latest fund, Piedmont Venture Capital Management expected a second close on its sophomore vehicle by the end of February. Stacy Anderson, a managing principal of the fund, would not comment on the size of the expected close, or the vehicle’s first close last fall, but she […]

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MTV’s Second Fund Expected to Wrap –

18 years ago

LOS ALTOS, Calif. – Media Technology Ventures’ (MTV) second effort, Media Equity Partners, at press time closed on $120 million and was expected to reach a $150 million target by the end of February. Launched in March 1998, the fund notched an $80 million first close in June and held rolling closes thereafter (VCJ, December […]

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Omega Managers Buy Independence From Robertson Stephens –

18 years ago

SAN FRANCISCO – The five managers of the Omega and Crossover venture funds in January bought their independence from Robertson Stephens Investment Management (RSIM). The new Omega Venture Partners Inc. will continue to manage Omega’s vehicles, which back late-stage deals in technology, business services and health care, as well as the Crossover funds, which back […]

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InterWest VII Set For First, Final Close –

18 years ago

MENLO PARK, Calif. – InterWest Partners was preparing for a late- February first and final close on its seventh fund and has added a venture partner to assist in investing the new vehicle. The firm was careful to avoid mass oversubscription by giving existing and new L.P.s estimates of the amount of capital they could […]

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Mellon Backs New Internet Fund –

18 years ago

ATLANTA – Former information- technology entrepreneur Buck Goldstein and strategic partner Mellon Ventures in February launched netWorth Partners, the latest in a growing list of Internet-focused venture funds. Mellon Ventures, the captive equity investment vehicle for Mellon Bank, will invest in netWorth as a strategic limited partner, sharing deal flow and expertise and assisting in […]

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TCV Wraps Vehicle, Plans to Boost Staff –

18 years ago

PALO ALTO, Calif. – Technology Crossover Ventures (TCV) in January notched a $400 million second and final close on Technology Crossover Ventures III (TCV III). The fund, which was oversubscribed, held a first close in November on about $270 million (VCJ, December 1998, page 20). Like its predecessor funds, TCV III will back a broad […]

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SEC Cracks Down On RD Write-Offs –

18 years ago

WASHINGTON, D.C. – Venture capitalists likely do not spend much time contemplating the accounting practices of public companies, but a Securities and Exchange Commission (SEC) initiative to curtail suspect accounting by such companies could affect the acquisition market for VCs’ portfolio companies. Since mid-1998, SEC Chairman Arthur Levitt has been increasingly vocal in criticizing corporations […]

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Oracle Establishes $100M VC Fund –

18 years ago

REDWOOD SHORES, Calif. – In many ways, Oracle Corp.’s newly launched $100 million venture fund looks a lot like its corporate brethren: The vehicle will make strategic investments in technology companies whose products or services are based on Oracle’s latest technology, a platform for Internet operations. The Oracle Venture Fund, however, differs from other corporate […]

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