Texas-based CenterPoint Venture Partners last raised a fund in 2001, when it secured $282 million for CenterPoint Venture Fund III. That vehicle’s investment period has since expired (although it has reserves for existing portfolio cos.), and it has no current plans to raise new capital under the CenterPoint banner. In other words, CenterPoint is basically playing out the string.
“The team is simply in a state of transition, in some cases because of age,” says a source familiar with the situation. “If this was two or three years ago, the team probably would have stuck together to do a fourth fund.”
According to its website, CenterPoint currently has 23 active portfolio companies. These include Handango, D2Audio and GlobeRanger.