Fundraising

Updata Partners rakes in over $280 mln for fifth fund

Washington, D.C. growth equity firm Updata Partners has raised over $280 million for its fifth fund, according to an SEC filing. As previously reported, the fund's original target was $275 million.

Flagship raising $350 mln opportunities fund

Flagship Ventures has set out to raise a $350 million opportunities fund, according to a filing with the SEC.

VR venture capital alliance launches with $10 bln fund

The Virtual Reality Venture Capital Alliance, a members-only organization focused on backing virtual reality, augmented reality and mixed reality startups, has launched with a $10 bln fund, according to an announcement on its site.

Kleiner Perkins raises $1.4 bln for new growth and core funds

Kleiner Perkins Caufield & Byers has raised $1.4 billion for its latest core and growth funds, according to a pair of regulatory filings.

Nova Scotia commits $25 mln to new venture fund

The government of Nova Scotia has made a $25 million commitment to a new venture capital fund. The fund, which will be private sector-led, aims to increase the amount of financing available to high-growth Nova Scotia startups. Innovacorp will lead a process to find an experienced business leader or firm to administer the fund and attract additional private investment. This process will be assisted by Rob Barbara, a general partner at Build Ventures; Charles Baxter, a vice-president at Innovacorp; Dominique Belanger, a managing director at BDC Capital; and Gilles Duruflé, a consultant.

Siemens to invest $1.1 billion in new startups unit: Reuters

German industrial group Siemens plans to invest $1.1 billion over the next five years in a new startups unit to help it develop businesses in areas such as artificial intelligence and decentralized electrification.

Lemkin closes on $68.2 mln for SaaStr Fund I

Jason Lemkin has closed on $68.2 million for his first early stage fund, according to a filing with the SEC.

Partech raises about $442 mln for inaugural growth fund

Partech Ventures has closed its debut growth fund at 400 million euros (about $442 million). Partech Growth's limited partners included European insurance companies and institutional investors. The fund will invest between 10 million and 50 million euros in fast-growing tech and digital companies.

Lightspeed China Partners wraps up third fund at $260 mln

Lightspeed China Partners has closed its oversubscribed third fund at $260 million. Also, LCP has raised a "substantial" amount for its first RMB fund that has a target of 500 million RMB (about $75 million). LCP focuses on China-based early stage companies in sectors that include internet, mobile and enterprise technology.

Bee Partners closes over $30 mln for second fund

Bee Partners has raised over $30 million for its oversubscribed second fund, beating its initial $25 million target, according to a blog post on its site. The fund will focus on early-stage startups.