Moonshots raises $19 mln for its inaugural fund

Moonshots Capital, a seed-stage venture firm founded by military veterans and serial entrepreneurs-turned VCs, announced it has raised $19 million for its inaugural fund. LPs include Dave McCormick, Co-CEO of Bridgewater Associates. The firm, led by Managing Partners Kelly Perdew and Craig Cummings, has offices in Los Angeles, California and Austin, Texas. Moonshots said it has already invested in four deals, including cybersecurity company New Knowledge and business travel booking provider Shep. Source: Moonshots announcement For additional info, VCJ subscribers can read a feature story on Moonshots from June: “Moonshots Capital, led by and investing in military vets, rockets from angel to venture.”

HealthpointCapital gathers $100 mln for fourth fund

HealthpointCapital, a private equity firm focused on musculoskeletal healthcare, has raised $100 million for its fourth fund. The target is $500 million. The fund plans on investing in eight to 10 growth-stage companies. PRESS RELEASE NEW YORK, Oct. 9, 2018 /PRNewswire/ — HealthpointCapital, the leading private equity firm focused exclusively on musculoskeletal healthcare, today announced the successful first closing at $100 Million of its fourth fund. The Musculoskeletal Fund IV will continue HealthpointCapital’s successful strategy of investing in differentiated technology and service companies in the orthopedics, spine, dental, maxillofacial, rehabilitation and digital health sectors. The Fund’s target size is $500 Million, with the intention to invest in eight to ten innovative growth-stage companies that can benefit from HealthpointCapital’s sector focus, industry / management experience, and investment. Commenting on the announcement, Mike Mogul, HealthpointCapital’s President, said: “The first closing for Fund IV represents a milestone and a validation of our
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Aldrich Capital wraps up inaugural fund at over $256 mln

Aldrich Capital Partners has closed its debut fund at over $256 million. The limited partners of Aldrich Capital Partners Fund I LP include endowments, foundations, pension funds and family offices. The fund will invest in North American-based lower middle market companies in three technology sectors: healthcare IT, financial technology, and application software. Kirkland & Ellis LLP provided legal counsel to the fund. PRESS RELEASE VIENNA, Va., Oct. 9, 2018 /PRNewswire/ — Aldrich Capital Partners (ACP), a Virginia-based growth equity firm, announced today the successful final close of its debut institutional fund, Aldrich Capital Partners Fund I, LP (Fund); with more than $256 million in capital commitments on June 22, 2018. Institutional investors including endowments, foundations, pension funds, and family offices committed to the Fund. The investment strategy of the Fund is to make growth equity investments, including both control and minority investments, in North American-based lower middle market companies
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OMERS, Equinor anchor C$60 mln initial close of ArcTern Fund II

ArcTern Ventures, a Canadian early-stage venture capital firm focused on the clean technology sector, has initially closed its second fund at C$60 million. ArcTern Ventures Fund II, targeted to raise up to C$150 million, was anchored in its first close with commitments from Ontario Municipal Employees Retirement System and Equinor ASA, formerly Statoil, a Norwegian energy company. Founded in 2012 by Managing Partners Murray McCaig and Tom Rand, ArcTern invests across six core clean technology sub-sectors: renewable energy, energy use and storage, circular economy, advanced manufacturing and materials, mobility, and agri-technology. PRESS RELEASE TORONTO, September , 2018 – ArcTern Ventures, a global, early-stage venture capital firm focused on breakthrough clean technologies, is pleased to announce a first closing of Fund II, with new partners OMERS and Equinor (formerly Statoil) as anchor investors. ArcTern raised CDN$60 million of its target CDN$100 million and expects to hold a final closing in
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Dragonfly to invest in cryptocurrencies with $100 mln maiden fund

San Francisco-based Dragonfly Capital Partners announced this morning its launch of a $100 million fund to invest in cryptocurrency deals. The firm is led by Managing Partners Alexander Pack, who previously headed network investing at Bain Capital Ventures, and Bo Feng, who previously was a founding partner of Ceyuan Ventures.The firm said it already has a portfolio of 20 companies, including Basis, Spacemesh and Oasis Labs. The fund’s investors include Salil Deshpande of Bain Capital Ventures, Marc Andreessen and Chris Dixon of Andreessen Horowitz, Cyan Banister of Founders Fund, Olaf Carlson-Wee of Polychain Capital, Neil Shen of Sequoia China, Baidu founder Eric Xu, Bob Xiaoping Xu of Zhenfund, Zhang Tao of Meituan-Danping, Bao Fan of China Renaissance Bank, Cai Wensheng of Meitu, Justin Tang of X Financial, JP Gan of Qiming Venture Partners, and Annie Xu of Alibaba U.S. Source: Firm announcement

Ex-NEA partner Jon Sakoda to raise $500 mln Catalyst Lab fund

Former New Enterprise Associates General Partner Jon Sakoda has filed to raise a $500 million venture-capital fund under the name Catalyst Labs Fund I, according to a filing with the SEC. Sakoda in a May blog post said he would be leaving NEA after 12 years. He is no longer listed on the NEA site. A first close was not reported. News reports suggest Sakoda will be working closely with Cisco Systems to make early-stage investments. The filing can be found here.        

Forerunner raises larger $360 mln fourth venture fund

Forerunner Ventures said it raised a $360 million fourth fund to continuing investing in early-stage companies in a market place that has become increasingly competitive. The new fund is nearly triple the size of the firm’s $122 million third fund from 2016, which itself was a leap over its $75.8 million second fund from three years earlier. The firm said it would “double down” on its founding strategy of addressing opportunities in the consumer sector and commerce, according to a blog post from founder Kirsten Green. “Many old-guard commerce leaders are saddled by outdated value propositions and infrastructure,” the post said, noting that Amazon itself is 20 years old. “Much has changed since then. The consumer has evolved, and the way we do business has transformed.” It added that it sees “a future for one-on-one commerce again, but this time delivered in a scalable way.” The firm
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Commonfund Capital wraps up 12th venture fund at $432 mln

Commonfund Capital has closed its twelfth venture fund at $432 million. The limited partners of Commonfund Capital Venture Partners XII include endowments, foundations and pensions. PRESS RELEASE Wilton, CT, October 5, 2018 – Commonfund Capital today announced the closing of its 12th venture capital fund, Commonfund Capital Venture Partners XII. The fund closed with $432 million of capital commitments sourced from investors including endowments, foundations and pensions. “We are pleased to partner with some of the leading managers across the globe for our 12th venture capital fund,” said Aaron Miller, Co-Head of Venture Capital at Commonfund Capital. “Through our decades-long industry track record, dedicated focus and access, we bring mission- and membership-based organizations exposure to a range of companies driving disruptive innovation across sectors such as information technology, consumer and healthcare” added Co-Head Kent Scott. Commonfund Capital is a private capital solutions provider that invests with global partners into primarily
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Saudi crown prince says sovereign wealth fund will surpass $600 billion target by 2020: Reuters

Saudi Arabia’s Crown Prince Mohammed bin Salman said the kingdom’s main sovereign wealth fund (PIF) will surpass its target of increasing its assets to $600 billion by 2020, as part of a plan to reduce the economy’s dependence on oil. “We are now above $300 billion, we’re getting close to $400 billion. Our target in 2020 is around $600 billion. I believe we will surpass that target in 2020,” the prince said in a Bloomberg interview published on Friday. He added that the fund, with more than 50 percent of its investments located in Saudi Arabia, will be investing in more places next year. The fund would invest another $45 billion in Softbank Vision fund, the world’s largest private equity fund, backed by Japan’s Softbank Group and the PIF, which invests in technology sectors such as artificial intelligence and robotics. “We have a huge benefit from the first one. We
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Mosaic Ventures amasses $150 mln for sophomore fund

Mosaic Ventures has raised $150 million for its second fund. The London-based early-stage venture firm is focused on Series A investments. PRESS RELEASE LONDON: 0900, Monday 8th October 2018 Launched in 2014, Mosaic Ventures today announced that it has closed a second fund of $150m, to continue its focus on Series A. Global ambition for Europe’s best founders
Mosaic is a ‘Silicon Valley-style’ venture capital firm that invests in early-stage technology startups. The firm embraces Series A risk: backing founders whose dreams have a genuine shot to become global category leaders. In the four years since launching, Mosaic has invested thematically in over 20 startups, in sectors at the frontier of innovation including blockchain & crypto, machine intelligence learning, mobility & location services and next generation, consumerised fintech (unbundling banks). The portfolio: backing the boldest entrepreneurs
Mosaic has backed transformative companies such as Blockchain, the world’s leading cryptocurrency wallet provider.
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Kraft Heinz launches $100 mln venture fund

Kraft Heinz has launched Evolv Ventures, a Chicago-based venture fund focused on food tech companies. Kraft Heinz has committed up to $100 million to Evolv and has named Bill Pescatello, a former partner at Lightbank, to lead the fund. PRESS RELEASE PITTSBURGH & CHICAGO–(BUSINESS WIRE)–Kraft Heinz announces the launch of Evolv Ventures, a venture fund that will invest in emerging tech companies transforming the food industry. Kraft Heinz has committed up to $100 million to Evolv Ventures and brought on venture investor Bill Pescatello to lead the fund. “New technological innovations in the food industry create endless new opportunities to strengthen business models,” said Bernardo Hees, Chief Executive Officer at Kraft Heinz. “Through Evolv Ventures, we will work with tomorrow’s most innovative founders and companies in the space, and use the full resources of Kraft Heinz to help them succeed.” Pescatello brings more than a decade
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Humbition collects $30 mln for new fund

Humbition, a newly launched early-stage venture firm focused on founder-led companies in New York City, has raised $30 million for its new fund. Zocdoc founder Cyrus Massoumi and Indiegogo founder Slava Rubin lead Humbition. PRESS RELEASE Humbition announces the close of a new $30 million operators fund investing in founder-led companies in New York City. Led by Zocdoc founder Cyrus Massoumi and Indiegogo founder Slava Rubin, the fund focuses on connecting early-stage firms with operators experienced in building and growing successful businesses. humbition fills a void in New York where most early-stage investment firms have limited operator experience. The fund has cultivated an impressive roster of New York-based startup founders as advisors, including ClassPass founder Payal Kadakia, Warby Parker founder and CEO Neil Blumenthal, Compass founder and CEO Robert Reffkin, B Lab founder Andrew Kassoy, Charity: Water CEO and founder Scott Harrison and Casper founder and CEO Philip Krim.
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Landmark Partners racks up $7 bln for PE secondaries fund

Landmark Partners has closed its latest private equity secondaries fund at $7 billion, beating its $4 billion target. The investors of Landmark Equity Partners XVI include public pensions, corporate pensions, insurance companies, asset managers and foundations. In January 2015, Landmark closed its previous secondaries fund at a hard cap of $3.25 billion. PRESS RELEASE Simsbury, Boston, Dallas, New York and London – Landmark Partners, a leading investor in the private equity, real estate and infrastructure secondary market, today announced that Landmark Equity Partners XVI (“LEP XVI”), together with its secondary co-investment affiliates, held its final close on September 28, 2018, with commitments of US$7 billion. LEP XVI exceeded its initial target of US$4 billion. LEP XVI continues Landmark’s dedicated secondaries investment strategy of acquiring interests in existing private equity funds, partnerships and other structured entities globally. The final close of LEP XVI brings Landmark’s total committed capital to approximately US$27
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