Fundraising

Benchmark targets $425 mln for ninth fund

Benchmark Capital is seeking to raise $425 million for its ninth fund, according to an SEC filing. The San Francisco-based early-stage venture firm invests in mobile, marketplaces, social, and infrastructure and enterprise software.

Fonds de solidarité FTQ to stop investing in Québec oil and gas

Fonds de solidarité FTQ has decided to stop backing Québec oil and gas companies as part of an energy transition strategy intended to reduce the carbon footprint of its investments. The strategy will include setting a reduction target for its private equity investments in 2019. Additionally, the Fonds plans to assist Québec businesses with their transition and invest in alternative sources of energy. The Montréal-based investor, which oversees $14.3 billion in net assets, decided last year to stop investing in coal use for energy production.

Immigration snags alarm venture

Khosla Ventures' Ben Ling to raise $60 mln venture fund

Khosla Ventures' General Partner Benjamin Ling has begun raising his own $60 million venture fund, according to a filing with the SEC.

Mercato Partners to raise $250 mln venture-capital fund

Mercato Partners has set out to raise a $250 million venture-capital fund, according to a filing with the SEC.

Town Hall Ventures collects $115 mln for fund

Town Hall Ventures has raised $115 million for its new fund, according to an SEC filing. Based in New York City, the firm invests in healthcare solutions for underserved communities.

FirePower to boost lending capacity in $100 mln JV with Arena

FirePower Capital has entered into a $100 million joint venture that will expand its debt-financing horizon, according to a news release. The Toronto firm said Friday it formed a JV with Arena Investors, a New York investor and merchant-capital provider. The partnership will enable FirePower to increase credit available to Canadian mid-market companies to a range of $1 million to $20 million. FirePower, which offers first-lien, unitranche, second-lien, mezzanine and venture loans through its Gap Debt fund, is especially active in Canadian technology sectors.

Sequoia files to raise U.S. venture, growth funds

Sequoia Capital formally filed to raise new U.S. venture-capital and growth funds, according a several of documents submitted to the SEC. The Silicon Valley firm did not report targets for the funds or initial closings.

Arrowroot Capital targets $315 mln for fourth fund

Arrowroot Capital is seeking to raise $315 million for its fourth fund, according to an SEC filing. Santa Monica, California-based Arrowroot Capital Management is a growth equity firm that invests in B2B software firms.

NovaQuest collects over $95 mln for fund

NovaQuest Capital Management has raised over $95 million for its debut private equity fund, according to an SEC filing. The target is $400 million. Based in Raleigh, North Carolina, NovaQuest invests in the life sciences and healthcare sector.