StarVest Partners, a venture capital firm investing in technology-enabled business services companies throughout the US, has announced the close of its oversubscribed USD244m Fund II.
StarVest Partners, a venture capital firm investing in technology-enabled business services companies throughout the US, has announced the close of its oversubscribed USD244m Fund II.
StarVest II was oversubscribed by nearly 25 per cent.
The largest institutional investors from its first fund increased their commitments, and the firm added several institutions, including major public pension funds, significant fund-of-funds and university endowments.
The firm was one of the first in the country to focus on investing in technology-enabled business services. In its expansion-stage its focus is on investing throughout the US, with successful investments in Silicon Valley, the Boston corridor, Cleveland, Chicago, Austin, Los Angeles and Scottsdale.
StarVest focuses on investing in four key sectors: software as a service; internet marketing services; e-commerce services; and data aggregation services or data-as-a-service.
‘As a major investor in venture capital firms, we believe StarVest brings some of the deepest domain knowledge and experience investing in expansion-stage technology-enabled business services companies throughout the US,’ says Kelly Williams, managing director and co-head of the customized fund investment group at Credit Suisse and a StarVest limited partner.
