InnoCal has been in business for more than 15 years, and lays claim to some legitimate hits like GeoCities. But it hasn’t raised a new fund since 2000, which means no new deals.
The Costa Mesa, Calif.-based firm still has the ability to support its nine remaining portfolio companies, and features three remaining partners. InnoCal did hold a first close for a third fund within the past few years, but ultimately opted not to raise. From what partner Harry Lambert tells me, it’s highly unlikely that InnoCal will revisit that decision and revive InnoCal III. It is possible, however, that the team could do something together with a different strategy.
Here’s a link to the InnoCal website.