BEVERLY HILLS, Calif. – Former California Governor Pete Wilson in October joined Pacific Capital Group, a merchant bank and investment banking firm, as managing director. Wilson, a Republican who served as governor of California from 1990 to 1998, will take a leadership role in a broad range of the firm’s private equity investment activities. Pacific […]
NEW YORK – Orbit Capital Corp. is raising its inaugural corporate venture fund, Orbit Capital Venture Fund I, targeted at $40 million to $50 million. The company, which began fund raising in October, expects to have a first close in January or February, and a final close shortly thereafter, said James Nelson, the company’s chairman […]
ARLINGTON, Va. – The board of directors of the National Venture Capital Association recently selected Mark Heesen to replace Daniel Kingsley as the organization’s chief executive officer. The change became effective September 23. “I’ve been CEO for 22 years and last year was, by all measurements, the best year we’ve ever had,” Kingsley said, adding […]
MENLO PARK, Calif. – Benchmark Capital Partners IV in mid-September closed on $650 million from institutional investors and at press time was preparing to close on $350 million from individuals, including the firm’s management, said Managing Member Steve Spurlock. The $1 billion fund dwarfs Benchmark’s last vehicle, the $175 million Benchmark Capital Partners III, which […]
HARTFORD, Conn. – A corruption scandal at the State of Connecticut Treasury Department is casting a harsh light on private equity fund-raising practices and on several private equity firms that may have granted favors and paid unusual fees to obtain commitments from the pension – fees that later found their way into the pockets of […]
MENLO PARK, Calif. – Convergence Partners in October held a first close on $95 million for Convergence Ventures II, said General Partner Russ Irwin. Marketing for the latest fund began last Spring as the firm was winding down making new commitments from the $60 million Fund I, which closed in Spring 1997. Having had just […]
MENLO PARK, Calif. – Doll Capital Management in late September wrapped its second fund, Doll Technology Investment Fund II, along with an affiliate and two parallel funds, which altogether total $150 million. Launched in late 1998, Fund II was targeted at $80 million to $100 million (VCJ, February, p. 25), and it held a $42 […]
REDWOOD CITY, Calif. – Draper Fisher Jurvetson Fund VI late last summer closed on $400 million – $375 million from limited partners and $25 million from the firm’s managing directors. Once existing limited partners were informed about the new fund, the vehicle completed fund raising in three weeks, said Managing Director Tim Draper. While Fund […]
WASHINGTON, D.C. – Arlington Capital Partners is on the fund raising trail for its first vehicle, Arlington Capital Partners L.P., targeted at $425 million to $450 million. A final close is expected in late November, said Jeffrey Freed, a general partner at the firm. Arlington Capital was founded in March when fund raising began for […]
BOSTON – With approximately 90% of its ninth venture fund committed, Greylock Management Corp. intends to raise its tenth fund in the next three to six months, with a likely target of $400 million, said General Partner Aneel Bhusri. While most firms typically initiate the fund raising process after current funds are 75% invested, Greylock […]