August Capital has closed it fourth fund, August IV, on $550 million (€427 million), about $100 million higher than the firm’s last fund. August plans to continue its strategy of early-stage venture capital and larger private equity investments.
August has already made about three investments from the new fund, according to a statement.
The firm also announced that David Hornik and Vivek Mehra have been named general partners in the fund. Hornik joined the firm in 2000 and was formerly an intellectual property and corporate attorney at Perkins Coie. Mehra joined the firm in 2003. He formerly founded former August portfolio company Cobalt Networks.
In 2000, August invested alongside Silver Lake Partners, Texas Pacific Group, Chase Capital Partners, Integral Capital Partners in computer disk drive maker Seagate Technologies. The tech company was taken private in a $2 billion deal.
August III closed in 2000 on $450 million. August Capital was founded in 1995 by David Marquadt and John Johnson, both formerly of Technology Venture Investors. The firm has $1.3 billion under management.