Q&A On Millennium’s Oversubscribed Fund

Millennium Technology Ventures, a VC secondaries fund, today announced an oversubscribed final close on it on its latest fund. As first reported by peHUB on April 7, Millennium topped its and $250 million hard cap by $30 million. The firm closed Millennium Technology Value Partners II LP with $280 million in commitments. The fund itself was around two times oversubscribed, making it the largest dedicated pool of capital focused solely on direct secondary liquidity, according to a press release from the firm. Its initial target of $200 million was stretched to accommodate as many investors as possible, but ultimately had to turn some away. The $280 million sum does not include the firm's GP commitment. Millennium's last fund was a 2006 vintage with $130 million in commitments. The firm's partners also managed a vintage 2000 traditional venture