Lawrence Aragon

Investors in Fund II include AXA Venture Partners, BPI France, Mubadala Investment Company and Ontario Teachers’ Pension Plan.

The tech-focused firm closed on $650m for Accel XVI, meeting its target and raising the same amount as it did for Fund XV two years ago.

The San Francisco-based firm is one of 26 women-led venture funds to hold a close in 2023, raising nearly $2 billion combined, according to Venture Capital Journal research.

Harpoon closed on about $125m, with commitments from the Illinois Municipal Retirement Fund and Los Angeles Fire & Police Pension System, but fell short of its $225m target.

Want to be a talent magnet? These veteran VCs say mentoring, 'passing the ball' and sharing carry equally are key.

Fund III's investors include CalSTRS, the Grantham Foundation, the University of California, Sobrato Capital, Strategic Investment Group and Northwestern University.

The firm sent a letter to investors that says its partners 'are planning to come back with a new strategic plan within a 180-day period,' an LP tells Venture Capital Journal.

One LP says the 17-year-old firm did not give them a heads up, while OpenView’s LPAC did not learn about the move until half an hour before the news broke.

Venture Capital Journal surveyed 117 institutional investors worldwide to find out what is most – and least – important to investors in venture funds.

Fund III's backers include university endowments, family offices, foundations and fund of funds. LPs in the firm's previous fund included Harvard and Princeton.