Staff Writer

BOSTON – John Martinson, the newly elected president of the National Venture Capital Association, is gearing up to fight proposed changes to the way venture capitalists conduct business. Founder and managing partner of the Edison Venture Fund, Mr. Martinson is concerned about ongoing moves by the Securities and Exchange Commission (SEC) and the Financial Accounting […]

MENLO PARK, Calif. – Mayfield Fund at press time was readying a late-May launch for Mayfield X, said General Partner Wendell Van Auken. The fund will follow the firm’s strategy of backing early-stage information technology and health-care companies. “It will be over $400 million, but I can’t pin [the size] down any more precisely than […]

SAN DIEGO/IRVINE, Calif. – Ventana Growth Funds, which offers a suite of domestic and international early-stage venture funds, at press time expected a mid-year final close on its most recent vehicle, Technology Gateway Partnership. Ventana, founded in 1974 by Thomas Gephart, invests in early-stage information technology and the Internet, and in medical technology and biotechnology […]

SAN FRANCISCO – Hambrecht & Quist’s Access Technology Partners L.P. surged to almost three times its target and at press time had scheduled a mid-May wrap on $336 million, said Managing Partner Charlie Walker. H&Q had planned to launch the fund a year ago, with the intention of raising $200 million for both direct deals […]

PALO ALTO, Calif. – Summit Partners at press time was preparing the late spring launch of a $150 million fund that will invest smaller amounts of capital than are usual for the firm, said General Partner Walter Kortschak. Summit in May hired Kip Sheeline, an 11-year veteran of Hambrecht & Quist, to manage the vehicle, […]

SCOTTSDALE, Ariz. – Valley Ventures II reached a second close in early April on $28.2 million. The Southwestern United States-focused fund has a $35 million target and will continue accepting commitments, but General Partner Jock Holliman is shifting his attention from fund raising to deal making. Mr. Holliman is in discussions with several existing institutional […]

BOSTON – Schroder Ventures International Life Sciences Fund II reached a second close on $214 million at the end of April and is expected to wrap at its $250 million cap by the end of June. The fund was targeted at $200 million and notched a first close on $127 million in December (VCJ, February, […]

WOODSIDE/IRVINE, Calif. – Crosspoint Venture Partners 1999 reached a first and final close on $200 million in late April, said Managing General Partner John Mumford. The fund had targeted $150 million to back seed- and early-stage companies in communications, e-business services and software (VCJ, April, page 22). All of Crossroad Venture Partners’ previous investors returned […]

NEW YORK – Six weeks after launching its first venture capital fund, Lehman Brothers in April closed Lehman Brothers Venture Partners L.P. on $350 million. The firm committed $145 million to the fund, while its employees invested an additional $75 million. The balance of the fund’s capital primarily came from high-net-worth clients of the firm, […]

BOSTON – The Pioneer Group Inc.’s venture arm in mid-March spun out and formed its own firm, Ascent Venture Management Inc., and at the same time Pioneer sold its interests in three of its venture subsidiary’s funds to Landmark Partners Inc. Ascent will continue to manage the three funds raised under Pioneer’s umbrella – Pioneer […]