Sequel is the last of three Colorado-based firms on our list, but its predicament is pretty much like the first two. No new capital since raising its $180 million third fund in 2001, which means no new deals. That third fund actually has a positive IRR and positive cash-on-cash return, according to CalPERS, but don’t expect there to be a fourth Sequel.
The firm did some marketing back in mid-2006, but then held off in order to generate additional liquidity. Smart money says that a few of the partners to try raising capital under a different banner.
According to Sequel’s website, the firm still has well over a dozen active portfolio companies.