SACRAMENTO, Calif. – The California Public Employees’ Retirement System (CalPERS) will renew its contract with general consultant, Wilshire Associates. The $153 billion pension at press time was negotiating the terms and fees for the evergreen deal. Wilshire has served as CalPERS general consultant for 17 years, and the firm’s current five-year, $3 million contract expires […]
SAN FRANCISCO -Sofinnova Venture Partners IV was slated for a final wrap on about $73 million in mid-April. Launched in late 1997, the $60 million-targeted fund was raised in Europe and the United States and held multiple closes (VCJ, November 1998, page 14). European backers – mostly French – put up about two-thirds of the […]
MENLO PARK, Calif. – Mayfield Fund’s newly-hired venture partner, Todd Brooks, recently closed two communication-technology deals. The companies, Avanex Inc. and Qtera Corp., develop photonic components and systems for the telecommunications industry. Mayfield in late March led Avanex’s $6 million Series C round with a $2.25 million commitment, followed a few days later by a […]
NEW YORK- As pensions in the New York City system get set to become some of the largest investors in private equity in the next several years, they are considering adding gatekeepers and internal professionals to help manage their private equity programs. The four city pensions that invest in private equity – New York City […]
GREENWICH, Conn. – Catterton Partners in March began marketing its fourth fund, which, targeted at $350 million, is more than twice the size of its previous vehicle. Catterton Partners IV will tap a mix of institutional investors, such as gatekeepers, endowments, funds-of-funds and high-net-worth individuals. The firm expects an initial close in June, said Michael […]
SEATTLE – Crossroad Ventures, the venture firm that spun out of Silicon Valley’s Redleaf Ventures earlier this year, recently changed its name to Guide Ventures and was anticipating a first close in April on more than $10 million for its inaugural fund, said founder Russ Aldrich. Mr. Aldrich, who had been Redleaf’s Washington-based managing director, […]
SAN FRANCISCO – Pantheon Ventures in early April was awaiting the completion of paperwork by a few limited partners before declaring a final wrap on its third fund-of-funds. Pantheon USA Fund III, launched in mid-1998, was the firm’s first major fund raising effort to include investors in the United States (VCJ, September 1998, page 21). […]
BOSTON/NEW YORK – HarbourVest Partners, L.L.C. is marketing its sixth fund-of-funds targeting investments in the United States. The launch is significant because it signals HarbourVest’s further movement away from committing to buyout partnerships and direct deals. If it reaches its $2 billion target, HarbourVest Private Equity Partners VI, L.P. is planning to invest $500 million […]
PHILADELPHIA – Two months after its January launch, Comcast Interactive Capital Group, the venture capital subsidiary of cable operator Comcast Corp., hired veteran venture capitalist Samuel Schwartz as a managing director. Mr. Schwartz is Comcast’s first deal-oriented hire since the group launched its $100 million VC unit (VCJ, February, page 5). He joins the company […]
PALO ALTO, Calif. – MeriTech Capital in mid-March hired its second managing director, Mike Gordon, formerly of BT Alex. Brown. Mr. Gordon will join MeriTech Managing Director Paul Madera in overseeing the late-stage fund, which is a joint effort of Accel Partners, Brentwood Venture Capital, Oak Investment Partners and Worldview Technology Partners (VCJ, April, page […]