Managers

Benchmark bulks up its team with seventh GP

Lightspeed collects $750 mln for twelfth fund, also raises $1.05 bln for third select fund

Lightspeed Venture Partners has closed its twelfth fund at $750 million. Also, the early-stage venture firm has closed its third select fund at $1.05 billion. Fund XII will focus on the enterprise and consumer sectors while Select Fund III will complement the firm’s early-stage fund strategy with follow-on rounds in existing Lightspeed portfolio companies as well as make new investments in companies "that have demonstrated compelling product-market fit, strong fundamentals and scalability."

Sofinnova Partners sells ReCor Medial

Sofinnova Partners has sold ReCor Medical to Otsuka Holdings. No financial terms were disclosed. ReCor Medical is a medical device company focused on treating hypertension.

MTech InsureTech venture fund raises $75 mln in initial close

MTech Capital said July 10 that the firm’s insureTech venture fund has raised $75 million in an initial close from three investors. They include CNA Financial Corp, NN Group, and an insurance company. The fund, which has a $150 million target, is focused on technology-enabled investment opportunities with the potential to transform the insurance industry.

Scale raises $400 mln sixth fund, unveils Scale Studio benchmark site

Venture continues to consolidate into fewer, bigger deals in H1 2018

SEC penalizes Aisling Capital, alleging failure to offset consulting fee

ICO issuers are mysteriously absent from the early blockchain patent rush

Aligned Capital targets $50 mln for third fund

Aligned Partners is seeking to raise $50 million for its third fund, according to an SEC filing. The Menlo Park, California-based venture firm invests in early-stage companies.

Index Ventures wraps up two funds

Index Ventures has closed its fourth growth fund at $1 billion, according to a blog post. Also, the firm raised $650 million for its ninth venture fund that will focus on early-stage businesses.