News

.406 Ventures targets $200 mln for third fund

Boston-based .406 Ventures, an investor in Veracode and Ambient Devices, is seeking to raise $200 million for its third fund, according to a regulatory filing.

HarbourVest Canada Growth Fund lands $197 mln in initial close

HarbourVest Canada Growth Fund, a venture fund of funds managed by Boston-based asset manager HarbourVest Partners, has secured $197.2 million in an initial close. The fund, the fourth to be formed in partnership with Ottawa's Venture Capital Action Plan (VCAP), raised about two-thirds of its commitments from a mix of banks, corporations and institutional investors.

Menlo closes 12th fund at $400 mln; solidifies smaller fund strategy

Uber backer Menlo Ventures raises $400 million for its 12th fund, which is expected to make 30 investments, or 10 a year, with about half at the early stage. The firm also allocated $15 million for its Menlo Talent Fund to back seed-stage ideas.

NEA raises $2.8 bln for its largest ever fund and $350 mln for its first opportunity fund

New Enterprise Associates goes large, raising $3.15 in new capital, including $2.8 billion for its largest ever fund and $350 million for its first opportunity fund.

RiverVest raises $75.8 mln toward a third fund

RiverVest Venture Partners has raised $75.8 million toward a $150 million third fund, according to a filing with the SEC. The filing says 41 LPs are involved and that the firm hopes to raise another $74.2 million.

MAB Capital launches $50 mln early-stage beverage fund

MAB Capital Management has launched Liquid Asset Brands Innovation Fund I, a $50 million fund that will back early-stage beverage companies. Liquid Asset Brands is also planning on launching its own brands and is aiming to open a craft distillery in downtown Chicago this year.

Pelion Venture Partners targets $200 mln for sixth fund

According to an SEC filing, Salt Lake City-based early-stage venture firm Pelion Venture Partners is currently seeking to raise $200 million for its sixth fund. As reported by peHUB, its previous fund closed at $194 million.

SWaN & Legend targets $150 mln for third fund

According to an SEC filing, SWaN & Legend Venture Partners is seeking to raise $150 million for its third fund. Based in Leesburg, Virginia, SWaN & Legend backs companies that build consumer brands "as well as the B2B companies that support them."

Venture fundraising keeps strong pace in first quarter

Venture fundraising kept up its strong pace in the first quarter with $7 billion raised by 61 funds, according to the National Venture Capital Association and Thomson Reuters.

Illuminate Ventures targets $30 mln for second fund

According to an SEC filing, Illuminate Ventures is seeking to raise $30 million for its second fund. Based in Oakland, California, Illuminate is an early-stage venture firm that targets North American-based high-tech startups with a focus on enterprise cloud and mobile computing.