Fundraising

Fubini's XYZ Ventures targets $70 mln for inaugural fund

XYZ Ventures targets $70 mln for inaugural fund

XYZ Ventures is seeking to raise $70 million for its maiden fund, according to an SEC filing. The newly formed firm was launched by Ross Fubini, a former venture partner at Canaan Partners.

On the Frontline with one of Europe’s growing early-stage firms

DCVC expands previously closed funds

Data Collective, which invests in big data, AI technology and IT infrastructure, announced it has topped off its previously closed sixth and fifth funds to a new total of $387 million. Its fifth fund makes early-stage investments, while its sixth fund is an opportunity fund designed to make larger follow-on bets in its portfolio companies. The firm, which has offices in Palo Alto, California, and San Francisco, said in a blog post from Managing Partners Zachary Bogue and Matthew Ocko, that it originally raised and closed these funds in less than 90 days at the beginning of 2016.

Blumberg Capital wraps up fourth fund above target

Activant Capital targets $150 mln for sophomore fund

Activant Capital has raised $63.5 million for its second fund, according to an SEC filing. The target is $150 million. Based in Greenwich, Connecticut, Activant invests in tech and software companies.

Blumberg raises more than $200 mln for fourth fund

San Francisco-based Blumberg Capital, an investor in unicorn companies Nutanix and Hootsuite, raised $206.6 million in commitments for its fourth fund, according to a regulatory filing. The fund is 33 percent larger than Fund III, a 2012 vintage year fund that closed on $150 million, according to Thomson Reuters.

Canada's banks, insurers set up small business fund: Reuters

Canada's major banks and insurers said on Thursday they planned to create a fund to invest up to $1 billion in small Canadian businesses over the next decade to bolster growth, Reuters reported. The fund is expected to have an initial capital commitment of more than $500 million. Initial participants will include the country's six major banks, as well as insurance companies, although a range of financial institutions, including pension funds, will be able to invest in the fund when it is formed. Victor Dodig, chief executive of Canadian Imperial Bank of Commerce, who was one of the earliest supporters of the initiative and played a prominent role in setting up the fund, said it could expand beyond $1 billion.

Worldwide venture fundraising market off to a busy start in 2017

Rethink Impact collects over $110 mln for venture fund

Rethink Impact has raised over $110 million for its latest venture fund. The investors included many UBS clients, such as high-net worth individuals, family offices, private foundations and universities. Rethink Impact invests in "social impact companies with a gender lens."