Centennial Ventures has been around for nearly 30 years, but may not make it too much longer. The Denver-based firm last raised capital in 2001, when it secured $341 million for its seventh fund. No new fund means no new investments.
Centennial currently has 22 active portfolio companies (it was 23, until ManiaTV shut down), and continues to fund them. Earlier this month, for example, Centennial participated in a massive follow-on round for Zayo Group.
It’s possible that the firm could raise a new fund when conditions improve, but the team would probably look much different. Centennial has a bunch of older partners, and word is that a few of them might not be up for another 10-year, fulltime commitment.