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Globespan Capital Partners closes fifth fund

Globespan Capital Partners has closed its fifth fund, Globespan Capital Partners V, LP, with commitments of USD380 million.

Globespan Capital Partners has closed its fifth fund, Globespan Capital Partners V, LP, with commitments of USD380 million. Globespan now has USD1.1 billion under management including the JAFCO America Technology Series III Funds and the Globespan Capital Partners Series IV Funds.

The new fund’s limited partners include state and corporate pension funds, university endowments, fund of funds, international pension funds from Europe and Asia, as well as leading companies from Japan.

‘Our team has been together for over ten years, and our experience combined with the results of the existing portfolio, made the time right to launch Fund V,’ says Barry Schiffman, Globespan Co-Founder and Executive Managing Director. ‘We’ve seen a number of changes in the venture capital industry during the past few years, most notably a return to more traditional gestation periods for our investments.’

Globespan’s five 2007 IPOs from its prior funds include BladeLogic (BLOG), Clearwire (CLWR), Glu Mobile (GLUU), Shoretel (SHTL), and Virtusa (VRTU). The firm’s fundraising efforts garnered continued strong support from existing investors and attracted several prominent new limited partners.

‘With Globespan Capital Partners V, we continue to execute on our proven investment strategy of investing in experienced management teams and innovative technologies focused on large market opportunities,’ says Andy Goldfarb, Co-Founder and Executive Managing Director of Globespan. ‘Fund V’s investment mandate has expanded from previous funds to include direct investing in Japanese-based technology companies. We strongly believe in the emergence of the Japanese entrepreneur and the global opportunity of venture capital.’

The Globespan team has a history of significant business development efforts in Japan on behalf of its portfolio companies and will be able to leverage deep and long-standing relationships with many of the largest technology companies in Japan, who are also active investors in private technology companies in Japan.

‘As a long-term investment partner with Globespan, I remain impressed with the team, its track record and their network of relationships in the industry and with entrepreneurs. Our relationship has grown stronger each year,’ says William Walsh, Managing Director, Portfolio Advisors, LLC.

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