Morgenthaler Ventures, an early stage venture capital fund focused on investments in information technology and life science companies, has completed a USD400m raise for its ninth fund.
Morgenthaler Ventures, an early stage venture capital fund focused on investments in information technology and life science companies, has completed a USD400m raise for its ninth fund.
This brings the firm’s total capital under management to USD2.6bn.
Robert Bellas, partner at Morgenthaler Ventures, says: ‘We are pleased by the response of our limited partners and their trust in our ability to invest successfully and steadily through up and down cycles.’
During the last liquidity cycle, Morgenthaler had five IPOs, including the top-performing life science IPO of 2008 IPC The Hospitalist Company.
Morgenthaler says it will continue to focus on early-stage investing with its new fund.
Since 2001, more than two-thirds of its venture investments have been made in the seed or Series A rounds.
Going forward, Bellas said that Morgenthaler will broaden its focus to include more Series B and Series C financings for companies that have achieved significant milestones.
Previous Morgenthaler funds have made both venture and private equity investments out of the same fund, but MVP IX is the first Morgenthaler fund to focus solely on venture capital investments.
Morgenthaler has also announced the addition of Rebecca Lynn as principal and Guido Appenzeller as entrepreneur-in-residence to its information technology team.
Meanwhile, the life science team has named Doug Treco as an entrepreneur-in-residence in its Boston office.
