Kodiak Venture finds $316m for Fund III

Kodiak Venture Partners, the Waltham, Massachusetts, seed and early stage specialist, has closed its third investment vehicle.

Kodiak drew capital commitments totaling $316 million (€251 million) for a vehicle that will make investments of between $250,000 and $10 million in the communications, semiconductor and software sectors. The firm will focus on the eastern US and Canada.

 

“Kodiak had the opportunity to close on significantly more funding, but capped the fund at $316 million to stay true to our business model”, said Lou Volpe, managing general partner of the firm, in a statement.

 

Kodiak’s previous fund closed in 2001 on $290 million. Its debut fund closed in 1999 on $70 million.

 

The firm was most recently part of a $10 million investment in GTESS, a provider of outsourced services for the healthcare industry. The round was co-led by General Catalyst Partners, another Boston-area firm that recently closed a third fund.