Venrock Raises $350 Million for New Fund
Venrock has closed its sixth venture capital fund with $350 million in capital commitments, peHUB has learned. Expect a formal announcement later this morning. At first blush, it's tempting to say that Venrock's fund-raising success was no big deal. After all, the firm was only targeting 58% of the $600 million it raised for its fifth fund in 2005. But I've got to give some major kudos here. First, Venrock reached its modest target very quickly -- something that many rival firms have struggled to do. Second, it somehow managed to maintain its 25% carried interest structure. Third, and perhaps most important, it succeeded despite some major personnel changes and investment strategy tweaks.
6 July 2010•4 mins read
